OREANDA-NEWS. October 28, 2009. The Azerbaijan Society of Appraisers (AQC) will have to fulfill a range of preliminary conditions for realization of the decision of its June 20 extraordinary meeting regarding joining the International Valuation Standards Council (IVSC).

The Society reports that in compliance with the IVSC procedure they should undergo international audit to confirm its stable financial condition and ability to pay fees to the Council.

“We have not chosen the auditor yet. There is also a range of additional requirements. IVSC sanctions submission of the application only in case of their meeting,” AQC says.

Earlier the Society scheduled submission of the application in September, then in November or December, but because of the expected audit the process can drag out.

The membership in the Council will enable the Society not only to operate in accord with international standards, but also distribute the standards and translate them into the state (Azerbaijani) language.

Today AQC unites 50 actively practicing appraisers.