In this paper, we have emphasized the importance that the property valuation by professional valuers
may have in the modern business, primarily in the financial reporting process. The introduction of
International Financial Reporting Standards in the Republic of Serbia and the frequent use of fair value
method for the valuation have opened the opportunity for increased use of professional valuation services.
The development of the professional valuers’ profession is time consuming, but for the economy
of a country is a very important process. Currently, in the Republic of Serbia, valuation of real property
is conducted by court experts. However, very small number of them registered their specialty in the
field of property valuations at the Ministry of Justice of the Republic of Serbia. Also, very few of them
have reported the evidence of professional development. In order to gain insight into the frequency
and functionality of professional valuers’ use for financial reporting purposes, we have conducted a
modest survey in the largest cities of the Republic of Serbia and presented the results in this paper.
D. Ilić, V. Mizdraković, “THE IMPORTANCE AND PRESENCE OF PROFESSIONAL VALUERS IN FINANCIAL REPORTING,” in FINIZ 2014 - The Role of Financial Reporting in Corporate Governance, Belgrade, Singidunum University, Serbia, 2014, pp. 88-90. doi: 10.15308/finiz-2014-88-90
Ilić, D., Mizdraković, V. (2014). THE IMPORTANCE AND PRESENCE OF PROFESSIONAL VALUERS IN FINANCIAL REPORTING. Paper presented at FINIZ 2014 - The Role of Financial Reporting in Corporate Governance. doi:10.15308/finiz-2014-88-90