Study On Asset Appraisal Standard Setting

The asset appraisal standard can standardize the providing and transmission of asset information, guarantee the quality of information, protect the interests of the information user also, and ensure the normal running of market economy. At the same time, it may benefit to maintain the image of asset appraisal trade as well as protect the appraisers . The asset appraisal standard, which is high quality and generally accepted, must be set in a tight logical way. The paper analyzes the relevant problems on Asset appraisal standard setting using the institutional change theory and public choice theory, anticipating putting forward the logic foundation of the asset appraisal standard setting. The paper defines the asset appraisal standard at first, and introduces two kinds of concepts of asset appraisal standard in broad sense and narrow sense; then brings in the relevant contents of the institutional change theory and public choice theory, and takes them as the theoretical foundation of analyzing. Then the cause and the cost-effective of asset appraisal standard setting as well as the anticipated interests of the standard setter are analyzed. The conclusions are: (1) the basic reason of the asset appraisal standard setting is the separation of the information provider from the user and many appraisal conventions at choice in the meantime; (2) the high cost and the lack of motivation for the standard is a kind of public goods to some extent may explain why the asset appraisal standard-setting progress is so slowly in our country; (3) the scientific and relatively feasible model is taking an NGO which entrusted by government as the standard setter, and what is more, the current competitive situation should be kept; (4) the principle of users having priority must be insisted in standard setting, and the two standard-setting approaches: Preference Aggregational Standard-setting Approach and Theory-based Standard-setting Approach can combine organically, that is, the standard-setting is guided with the theory based on empirical researches. At the same time, the asset appraisal standard should be set principally with few detail in china, moreover the standard should not beyond the current situation, and the openness in standard-setting should be strengthen and measures should be taken to strengthen the enthusiasm of masses participating in standard-setting. Through the research of the paper, I hope to provide a kind of thread in research on asset appraisal standard setting, and offer some references in standard setting in China.