Evaluation ethics
Integrity
Tathmen is committed to providing its services with credibility and clarity while ensuring the accuracy and impartiality of the information contained in its reports, and Tathmen is committed to maintaining its client information and ensuring that its reports are presented in full accuracy and professionalism.
1. The Assessor is committed to clarity, integrity, honest handling and without fraud or deception in all professional and commercial relations.
2. The Assessor must carry out his work with credibility, professionalism, sincerity and fairness, so that his judgments are impartial and his views are neutral.
3. The Assessor must be contented and characterized by detachment of ambitions, thus abandoning suspicions and leaving that which makes him doubt for that which does not make him doubt, refraining from doing something permissible for fear of falling into what is prohibited.
4. The Assessor is prohibited from preparing, publishing, trading, referring to, or knowingly become associated with any task or service on an Assessment Report, believed to be;
A. Containing opinions, information, analyses, or results; either false, misleading, biased, and inaccurate or unjustified;
B. Conceals or deletes information required to be included which would be misleading.
5. If the Assessor subsequently realizes that he is involved in such assessments, he or she must take immediate steps to abandon them, for example by issuing a modified version of the assessment or the report.
6. The Assessor is prohibited, when advertising for himself or marketing for his work to win business appointing, to do the followings:
A. Claiming scientific, professional or previous qualifications for which he or she has no experience or to overlook the correction of information thereon.
B. Uses incorrect information, misleading advertisements or exaggerated offers about the services he or she provides.
C. Makes false claims, ambiguous comparisons, or abusive references to the actions of other assessors.
7. The Assessor is prohibited from doing his or her work in a manner that leads to error.
8. The Assessor is prohibited from performing or participating in the provision of assessment services which are rejected by the general assessors for logical reasons.
9. The Assessor is obliged to act consistently in a manner that confirms his or her commitment to the regulations and legislations in force related to his or her work.
10. The Assessor is obliged to avoid a situation that may lead a third party, who is prudent and acquainted, to conclude that his or her integrity and professional orientation towards suspicion has been compromised.
11. The Assessor is prohibited from accepting unusual gifts, favors or exceptions before accepting, during or after the completion of an assessment task based on the outcome of his or her work.
Independence
Tathmen is committed to providing its services in full independence without prejudice or conflict of interest and without any external influence, taking into account the necessary precautions for the absence of any direct or indirect interests that may affect the results of its reports.
1. The Assessor shall not waive the professional provisions due to prejudice, conflict of interest or any external influence.
2. The Assessor may not act on two or more parties in the same matter without the written consent of the parties.
3. The Assessor shall take all necessary precautions to ensure that there is no conflict of duties between the interests of his clients amongst themselves.
4. When assessing an asset, the Assessor must take all necessary precautions to ensure that there is no direct or indirect interest of him or his company, relatives, friends or partners in this asset. That indirect interest includes all that is affected by the assessment of the asset being valued, and where such inconsistency exists, he or she must disclose it.
5. The Assessor must disclose his or her status as an internal Assessor or an independent external Assessor.
6. Potential discrepancies must be disclosed in writing prior to acceptance of the task or conflicts discovered by the Assessor at a later date.
7. Conflicts that have not been discovered by the Assessor after the assessment has been completed shall be disclosed once such inconsistencies have been discovered.
8. The Assessor is committed to carrying out any task with determination and independence without regard to personal interests.
9. When evaluating a property, the Assessor must not let his personal tendencies affect the assessment.
10. The Assessor is not allowed to accept assessment tasks or to prepare any assessment involving pre-determined views or predetermined objectives.
11. It is prohibited to adopt fees or assessment charges on assessment results, such as estimating a percentage of the asset or to require the execution of the transaction, for example.
12. It is prohibited for the Assessor to accept a task dependent on assumptions that are unlikely to be realized in a time span that logically agrees with those assumptions.
13. Assumptions should be logical as a land valuation by decontamination provided that it is accompanied by a study of the probability of realization of the presumption and of the value in case it is not achievable.
14. The Assessor is prohibited from relying on unsupported conclusions, or based on unfairness of any kind or on conclusions that reflects an unfair opinion which the report is based, increases its value or the use of such.
15. The Assessor must work on the diversity of his or her clients and not rely entirely on a limited number of clients, which threatens his or her independence.
16. When the Assessor reviews a report prepared by another Assessor (as in safe lending or other purposes), the Assessor must always be impartial and provide a fair judgment and justify the reasons for his or her agreement with the report’s findings or differences.
Efficiency
Tathmen is committed to working according to the technical and professional standards in force when providing professional services and practicing good judgment in the application of professional knowledge and skills, it also works to raise the constant awareness of its staff, works on understanding the cognitive developments and technical skills in the relevant fields.
1. The Assessor must work on obtaining professional evaluation services to the fullest extent for the clients or employers to.
2. It is prohibited for the assessment to be carried out by those who do not meet the definition of the Assessor contained in the guidelines of this Charter and do not meet its conditions and requirements.
3. The Assessor must be certain that he or she has the knowledge, technical skills and experience necessary to perform the assessment service efficiently, highly professional and decent level.
4. The Assessor is obliged to act in accordance with the technical and professional standards applicable in the provision of professional services.
5. The Assessor must exercise good judgment in applying professional knowledge and skills when performing the service.
6. The Assessor is committed to maintaining professional competence at the required level by continuous awareness and understanding of developments in knowledge, technical skills and related fields, and to work on continuous professional development of the necessary capabilities to perform the work efficiently.
7. The Assessor shall take appropriate steps to ensure the professional competence of the employees under his command and that they have the appropriate training and supervision.
8. The Assessor must know the limits of his abilities. If he or she does not have the professional knowledge and experience to carry out an assessment service, and does not have the ability to acquire it before completing the assignment, he or she must use a person with experience in that type of task or refrain from performing the task.
Professional Behavior
Tathmen is committed to working with professionalism and dedication, to submit its reports in a timely manner, to take adequate care in accordance with the established regulatory requirements, technical and professional standards, and to avoid any act that is harmful to the profession, including acceptance of instructions, external assistance, as well as to exercise effectiveness, perseverance, confidentiality and disclosure.
A) Accepting Instructions:
Before accepting any assignment or entering into an agreement to be executed, the Assessor must:
(1) Understand the dimensions of the task to be performed, including identifying the parties of the task and the asset of the task, its purpose and the basis of the required value; so that it can agree with the client on the scope of the work.
(2) Ensuring that the scope of work is sufficient to achieve credible results.
(3) Ensuring that the task does not represent a threat to comply with one of the principles of this Charter or to take appropriate safeguards to prevent it.
(4) Receiving limited instructions and / or assignment from the client and shall be documented in writing in detail, in accordance with international assessment standards prior to commencement; and to avoid any misinterpretation of the meanings or scope of the work.
(5) The Assessor must refrain from accepting the assignment of any task that does not meet the previous points. If he or she accept a task and then discover a risk of complying with any of the principles of this Charter, he or she must disclose this to the client, and then determine how to handle this task. There may be situations in which the Assessor withdraws after starting.
(6) The Assessor is prohibited from accepting an assignment if the circumstances do not permit accurate and high quality work and reliable results; thus leading to the frustration of both client and Assessor and affects the reputation of the profession.
B) External Assistance:
(1) When external assistance is required to supplement the Assessor skills, the Assessor must first verify that these assistants have the skills and ethical principles required.
(2) Client consent should be obtained when requesting external assistance, and the identity and role of the assistants should be disclosed in the preparation of the assessment report.
(3) The contributions of each person should be mentioned in the report and how the Assessor used the information they provided in the assessment report, which helps the client understand each person’s role and minimize confusion.
C) Effectiveness and Attendance:
(1) The Assessor must work effectively in implementing the client’s instructions and keep him updated on the task updates periodically.
(2) The Assessor must work according to the requirements of the task carefully and accurately, and finish them in a reasonable time and in a timely manner.
(3) The Assessor shall work diligently to serve the clients and shall take adequate care to ensure that the service provided is in accordance with all technical and professional regulations and standards applicable to the subject matter of the evaluation and purpose of the assessment or both.
(4) The Assessor shall act responsibly and politely in all transactions with clients and the public and shall respond promptly and effectively to all reasonable instructions and complaints.
D) Confidentiality:
(1) The Assessor is obliged to deal with the affairs of the client with discretion and confidentiality at all times. He or she does not disclose any real sensitive data obtained from the client or important results reached in his or her favor for any person or third party.
(2) The Assessor is prohibited from using confidential information acquired as a result of professional relations for a personal purpose or for a third party.
(3) The Assessor is committed to maintaining the confidentiality of the information disclosed by the actual or potential clients or the employer.
(4) The Assessor is committed to maintaining the confidentiality of the information acquired as a result of the professional relations within the establishment or the company in charge or outside them.
(5) The Assessor is obliged to maintain confidentiality in his social environment and to warn against the unintentional disclosure to work colleagues or to family members.
(6) The Assessor shall take the necessary steps to ensure that his subordinates, advisers and assistants are committed to maintaining the principle of confidentiality.
(7) The Assessor is obliged to continue to comply with the principle of confidentiality even after the relationship between the Assessor and the client or employer ends.
(8) The Assessor has the right to use previous experience when the Assessor changes his or her work or acquires a new client, without using or disclosing any confidential information obtained as a result of any previous professional or commercial relationship.
E) Disclosure:
Disclosure is essential for assessment users to understand key issues, and to ensure that the assessment report is not misleading. However, disclosure alone is not enough to meet ethical standards. Without prejudice to the principle of confidentiality, confidential information may be disclosed provided there is a statutory, professional or disclosure right, such as:
(1) Disclosure must be authorized with explicit written permission by the client or employer.
(2) The disclosure is permitted or permitted by statutory.
(3) Disclosure is required by law: such as:
Provide a document or evidence in the context of litigation proceedings;
Disclosure to appropriate public authorities when the bylaw is infringed;
(4) Where there is a professional duty or right of disclosure such as:
Compliance with quality review by the Saudi Authority for Accredited Valuers (TAQEEM);
Respond to any inquiry or inquiry by the (TAQEEM) Authority;
Responding to a supervisory procedure in place within the (TAQEEM) Authority, such as presenting it to the Committee for the Examination of Violations;
Protect the interests of the Assessor in the formal proceedings;
Ensure compliance with technical standards and ethical requirements;
(5) When disclosing confidential information, the following factors should be considered:
Whether the interests of all parties (including external parties) may be affected if the client or employer agrees to disclose the information by the resident;
The extent to which the relevant information is known and can be substantiated, if there is incomplete information or unfounded facts and conclusions, professional judgments should be used to determine the type of disclosure to be undertaken (if necessary);
The method of disclosure, the disclosing party and its suitability;
F) Information and Documents:
(1) The Assessor must accurately verify the reliability of the data used in the assessment.
(2) When the Assessor obtains information from the client, the Assessor shall know and document the extent of the client’s trust in this information and ensure that it is reasonably accurate.
(3) It is prohibited for the Assessor to rely on the information provided by the client or any other party without verifying its eligibility or verifying its source, unless their nature and reliability are determined as a restricted condition, i. e., as a determinant of the assessment’s determinants.
(4) The Assessor must prepare a work file for each task when completed, and the file must contain a hard copy or electronic photo of all written reports, correspondence, notes and documents in addition to information, data and procedures sufficient to support the Assessor’s opinion such as inquiries, inspections, sources, and methods used, analysis, and calculations.
(5) The file must contain all information supporting the work of the Assessor, even when providing a brief report to the client.
(6) The work file must be prepared so that a person with no previous relationship with the task can see it, and determine the stages of the process passed by the Assessor to reach the results, and this is the main purpose of the work file.
(7) A work file must be kept for each task, for a period of at least ten years after the completion of the assignment, unless the assignment includes litigation, otherwise the period shall be calculated after the expiry of the litigation, including the appeal.
