International recognition of BHPA

We are pleased to inform you about the additional progress made by the Bosnian and Herzegovinian Property Association as part of efforts to involve in international structures and developments in areas related to property valuation, harmonization with international standards and recognition of BHPA from relevant international institutions.

The IVSC is a not-for-profit organisation, supported in its mission by members and sponsors including the World Bank, United Nations, major international accounting firms, and by valuation professional organisations worldwide. The IVSC works with national standards bodies, governments, regulators and service providers to support the adoption of International Valuation Standards (IVS).

The main goals of the IVSC are:

  • developing high quality International Valuation Standards (IVS) that encourage consistency, transparency and trust in property valuation; and

  • the adoption of international standards by professional valuation organizations.

Below we list several basic characteristics of the IVSC:

  • The IVSC promotes the harmonization and application of high quality, internationally accepted standards in the preparation and presentation of property market valuation reports;

  • The IVSC as a non-profit organization is supported in its mission by members and sponsors, including the World Bank, the United Nations, major international auditing firms, and professional valuation organizations; and

  • IVSC cooperates with national standards bodies, governments, regulators and service providers to ensure that international standards of valuation (IVS) are adopted globally.

Through the membership in TEGoVA and IVSC, BHPA has once again demonstrated its capacity to participate in the harmonization and enhancement of international standards in the area of valuation and implementation of international valuation standards in the markets of Bosnia and Herzegovina and the region. With this and similar activities, BHPA also contributes to the enhancement of the profession of valuation as well as other related professions. In this way, BHPA has fulfilled a number of set goals:

  • International recognizability of the organization and all its members;

  • Meeting the prerequisites for further professional co-operation, joint action, insight into practice and exchange of experiences with other members of the mentioned international organizations and institutions cooperating with them;

  • Positioning BHPA as an association that:

  • follows European and international sandards,

  • participates in the development of the profession in Bosnia and Herzegovina as well as at European and international level,

  • put on the market of BiH all relevant knowledge and experience,

  • provides its members with the assumptions for the status of the most relevant experts in assessing the value of the property,

  • Participation in world conferences and education;

  • Contribution to the development of the profession and representation of BiH on an international scale, etc.

President of BHPA

Prof. dr. Muharem Karamujić