The Saudi Authority for Accredited Valuers “Taqeem” reiterated the importance of adhering to the regulations governing the valuation profession to ensure its legal and proper practice and to cease any practices that may negatively affect the profession and its practitioners. In its quarter one report for 2025, the authority revealed that 3 violators of the accredited valuers’ system were referred to the public prosecution for practicing valuation without a license. Additionally, 82 valuation practitioners were referred to the committee for violations of the accredited valuers’ system provisions.
The report highlighted that 14 specific penalties were issued by the committee for violations of the accredited valuers’ system against individuals who breached the system’s provisions and executive regulations. These penalties included warnings, reprimands, financial fines, and one-year suspensions as stipulated in Article 32 of the accredited valuers’ system. The authority stated that it will continue to ensure compliance with the regulations governing the valuation profession, having already corrected 8 minor violations identified among a group of offenders.
