Capital Valuations Avoiding the Pitfalls 2017 - Cardiff

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Event summary

For our ALL NEW 2017 'Pitfalls' event, we are going to look at situations or scenarios that you might come across during your asset valuation programme. We will also revisit some perennial asset valuation issues such as valuation frequency, indexation and valuation quality as well as factoring in building sustainability issues. Alongside this, we will also provide an update on wider changes in accounting and valuation requirements that might impact on current or future asset valuation programmes.

Further dates and locations are detailed below and the programme schedule will be available soon.

Date

10 October 2017
Starts: 10:00
Ends: 16:00

Location

Best Western Plus New House Country Hotel
Thornhill Road
Cardiff
Caerdydd
CF14 9UA
[See map]

Standard price

£325.00 excl VAT

*the event has started.

About this event

As a local authority asset valuer you may often be faced with valuation scenarios that just throw you. You may be working through your asset valuation programme quite happily, and an asset will pop up that needs valuing which you look at and wonder how on earth to approach it. Don’t worry, it happens to everybody at some point.

Many asset valuations will be fairly homogeneous or routine in their nature. Spotting the situations where you need to perhaps depart from that routine is key, and it is those which your external auditor is likely to include in their sample asset valuations for review!

As well as covering everything as detailed in the event summary above, we will provide an update on wider changes in accounting and valuation requirements that might impact on current or future asset valuation programmes, including:

  • new RICS global Red Book and revised International Valuation Standards
  • the RICS DRC Taskforce which is reviewing UKGN2 of the Red Book
  • new international accounting standard relating to leases (IFRS16).

If you are keen to learn more about local authority asset valuations and to share your experiences with others in the same predicament, then this packed day is just for you.

The process of undertaking capital asset valuations for land and buildings in the local authority balance sheet is not easy. Interpreting the various regulations and standards to ensure compliance can be a tricky and time consuming task, with numerous pitfalls for the unwary.

Any misinterpretation can become embedded into locally accepted practice and it would be easy as a result to expose yourself to unwelcome criticism from your auditors or RICS regulation.

If you often feel that there is nowhere to turn on these and other asset valuation related challenges, this is the event for you; through a combination of presentations, exercises and discussion this event has been designed to cut through the language of the various accounting and valuation standards and provide practical tips to avoid common errors of interpretation.

There will be plenty of opportunity throughout the day for delegates to ask questions and raise issues and challenges they have encountered in their valuations.

Who should attend

This event will benefit those involved in the valuation process to avoid the critical pitfalls, including:

  • property officers who are involved in producing assets valuations for local authority accounts
  • finance staff who are responsible for managing the valuation commissioning process and ensuring that the resulting valuations meet current regulations and standards, and ensuring that the balance sheet is robust to audit scrutiny.

When undertaking your asset valuation programme you need to:

  • satisfy yourself that your procedures and approaches are the best they can be
  • be happy that you have correctly interpreted the relevant accounting and valuation standards.

Delegates will be updated with the very latest issues and challenges in local authority asset valuations and be confident in ensuring that the approach and methodology adopted by the authority carrying out asset valuations is in accordance with the RICS 'Red Book' and the Code of Practice on Local Authority Accounting.

Topics

  • Financial reporting
  • / IFRS
  • / Professional development
  • / Property