Public appraiser is a type of appraiser who has obtained permission from the Minister of Finance to provide services as stipulated in this Minister of Finance Regulation or an external appraiser as referred to in the Minister of Finance Regulation in the field of state wealth and auctions. Public appraisers are providing their services through the Public Appraisal Service Office. Thus, Public Appraiser might become a solution to assume, predict and even plan for utilization of assets and here is why you could trust in Public Appraiser.
Abundant Scope of Services
There are many services that could be provided by a public appraiser. Then, the following are some of the scope of public appraisal in Indonesia, including:
- Valuations to determine the economic value of tangible and intangible assets are Fixed assets Valuation and Business Valuation including goodwill, trademark and patent.
- Project Appraisal.
- Technical Appraisal.
- Development Consultancy including Project Feasibility Study.
- Project Monitoring.
- Investment Arranger and Advisory Services.
- Valuation and Information Technology in the field of Property (Property Information System).
- Property Consultancy includes Financial Property Advisory Service.
- Property Management.
Strong Basic Knowledge
Before becoming a public appraisal, a person must at least pass the initial appraisal education and be competent to become a registered appraiser firstly. This can be achieved by attending appraisal education, advanced professional, and taking appraiser certification. Early appraisal education that has been recognized by the Professional Association of Appraisal such as:
- Formal education of Appraisal from a University or college.
- Non-formal education for basic or further appraisal from the Professional Association of Appraisal.
- Formal and informal education from the government.
Appraisers, before becoming Public Appraisers, are also required to carry out ethical training based on the Indonesian Appraisal Code of Ethics.
Advanced in Appraisal Experience
For Appraiser to pursue to become a public appraiser must meet various requirements that must be taken. Thus, the requirements to become a public appraisal in the Public Appraisal Service Office include:
- Last education must be at least undergraduate or equivalent;
- Pass the Appraisal certification exam based on the license classification that has been applied for;
- Attach proof of continuing professional education for the last two years. This applies if the graduation date has exceeded the two-year period, at least:
- 20 credit units in classifying to perform personal valuation of property or simple property valuation.
- 40 credit units to classify business valuations or property valuations;
- Successfully passed the ethical training held directly by the Professional Association of Appraisers;
- Have to be a member of the Professional Association of Appraisal;
- Experienced in the field of appraisal based on permit applications, at least:
- Two years or a minimum of 600 working hours becomes an appraisal, whether it is in a personal property appraisal or a simple property appraisal.
- Three years or a minimum of 1,000 hours of work as an appraiser for appraisal assignments and includes approximately 200 hours of work related to business valuation. or
- Three years also with 100 hours of work as an appraiser to conduct an appraisal which includes at least 100 hours of work related to plantations, 100 hours of work related to commercial properties, and another 100 hours of work related to factories;
- Never been sanctioned in taking a public appraiser’s permit
Therefore because of these reasons people can trust public appraisers as it is also trusted by the ministry of finance and use its services to evaluate their assets and business value, etc. Overall, the reasons are abundant scope services provided by public appraiser, strong in term of basic knowledge of appraisal based on education and training that have to be fulfilled and public appraiser have to be experienced enough in appraisal career to have credibility as public appraiser.
TBrights is integrated business service in Indonesia that has valuation partner and valuation consultants that can provide you for valuation services in Indonesia.
by Tommy HO – Managing Partner TBrights
Reference:
- Minister of Finance Regulation (PMK) Number 125/PMK.01/208
- https://klikpajak.id/blog/kjpp-kantor-jasa-penilai public/#Syarat_Menjadi_Penilai_Publik
- https://www.jojonomic.com/blog/appraisal/
