Wiktor Patena | Krzysztof Maślankowski
pages: 26-39, Abstract: Many of the generally accepted valuation principles and concepts are related to the classical valuation trio: income approach, asset approach, market approach. Professionals who (in the USA) are granted CBA, CVA or ASA titles have to follow prescribed rules and guidelines in preparing and distributing the appraisal reports. The standards created by some professional organizations must follow a uniform standard of practice consistent with the Uniform Standards of Professional Appraisal Practice. In Poland we lack such standards. All valuation professionals recognize many fundamental truths. All valuators agree on the basic definitions surrounding key concepts such as discount rate or FCF. Still, the valuations may lack consistency and integrity that can be imposed by a uniform valuation standard. The paper is an attempt to review existing valuation standards and suggest a new approach to building a code of practice for valuation professionals in Poland.