Revaluation/Assets Flashcards
1
Q
Revaluation/Assets
A
Obtain valuation reports
Agree valuation figures to FS
Ascertain as to integrity and quality of values work with reference to: qualifications, experience, third party references
Compare values against similar premises within the area to assess reasonableness
Repertory valuation calculations to ensure accounted for correctly.
In spect notes in financial statements for correct disclosure
Ensure depreciation carried out on revalued amounts (no cherry picking)
