The Council of Saudi Chambers called on government agencies to study and review the comprehensive guide for the inventory, assessment, and evaluation of government assets by holding awareness workshops with specialists. In turn, the Federation’s National Valuation Committee supports the Accounting Entitlement Center with information on valuation companies and offices in the machinery, equipment, and economic facilities sectors.

During the meeting between the Union and the Accounting Entitlement Center, the two sides discussed mechanisms to enhance communication between the Center, the Committee, and accounting firms to improve the quality of the government asset valuation and inventory process and provide advice on projects proposed for valuation in a manner that serves the public interest of thenational economy. The Center is preparing to participate in the first valuation conference that the Committee plans to hold in the coming period.

The Accounting Entitlement Center is working with relevant authorities to resolve the obstacles raised by the Committee, which include standardizing terminology in proposed projects and adding the word “valuation” to tender documents, and designating consulting firms as the entities responsible for providing inventory, inventory taking, and valuation services in accordance with the National Classification of Economic Activities, rather than limiting these services to accounting firms.