The Indonesian Society of Appraisers (ISA) has just issued a new valuation standard in 25 April 2013. The board claim that the standard adhere to the International Valuation Standard 2011 that is issued by International Valuation Standards Council in July 2011, and using references from other standards around the world, that is adjusted to the needs and condition of the valuation practice in Indonesia. This is the fifth edition of the Indonesian Valuation Standards (previous 2007), and will be called KEPI and SPI (Standar Penilaian Indonesia) 2013.
KEPI and SPI has important role for the valuers, users, government, and other bodies. KEPI is the moral ground, while SPI is the practice guide of valuation in Indonesia, while from the user it is as a guide to understand and using the valuation reports.
KEPI and SPI 2013 is made following the systematics of International Valuation Standards where KEPI is a separate part from SPI, but printed as one.
SPI 2013 is principle base, with platform of property and business valuation. Di this edition, the term “property” is replace by “asset or liability”, where in this edition, the terms have the same definition in Real Property, Personal Property, Business, or Financial Rights.
With the application of the new standard, it is hoped that Indonesian Valuers will have more profesionalism and at the same level of other valuers in other countries, and can compete internationally.