The Saudi Authority for Certified Appraisers “Tawqeef” 17 members of the valuation profession to the committee reviewing violations of the provisions of the Certified Appraisers System; for violating the provisions of the Certified Appraisers System and the rules and regulations governing the appraisal profession, and whose actions involved regulatory and other professional in a number of valuation reports approved by them, thereby subjecting them to regulatory disciplinary accountability.

The Committee for Reviewing Violations of the Certified Appraisers Regulation has issued its decisions against a number of violators of the provisions of the Regulation and its implementing regulations; These include the imposition of a number of penalties stipulated in Article (32) of the Certified Appraisers Regulation, including warnings, reprimands, and fines exceeding one hundred thousand riyals.

The Authority has also worked to develop compliance plans for the provisions and rules governing the appraisal profession, as well as corrective measures—for non-serious violations—identified among a group of 20 other violators, while the Authority continues to monitor them and ensure the seriousness and effectiveness of the implementation of the corrective and compliance plan; this is in accordance with the provisions of the Professional Performance Quality Control Program.

As part of its efforts to fulfill its role in oversight and addressing violations, the Authority emphasizes the necessity of adhering to the regulations and rules governing the valuation profession, with a view to ensuring the profession is practiced in a lawful and proper manner, and to halt all practices that negatively impact the profession and its practitioners while safeguarding the rights of those who benefit from it. It also urges the reporting of any violation of the Certified Appraisers System and the provisions and rules governing the appraisal profession through communication via the Authority’s official channels.