Plant and Equipment Valuation QLD
Asset Valuers Queensland
Asset Valuers Queensland
Machinery Valuers in Queensland
Plant and Machinery Valuers Brisbane QLD
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Plant & Equipment Valuation Standards

We here at Plant and Equipment Valuation QLD are dedicated to providing only the best quality service for our clients. We want our clients to be satisfied with more than just the quality of the report but also with the outcome that only a professionally conducted valuation can provide.

To ensure our clients are happy with every one of our plant & equipment valuation services we conduct our valuations to very high professional standards. These are set by many respected and well-regarded professional bodies and by following their valuation standards we can guarantee valuation reports that are fit for domestic and international use.

Australian Accounting Standards

The Australian Accounting Standards (AAS) are well known in several industries and have been written by the Australian Accounting Standards Board (AASB). This board has based their standards on the internationally recognised International Financial Reporting Standards (IFRS) and has adapted them, so they are better suited for Australian use. The AAS are abided by businesses, accountants, and finance professionals across the country, as such, we comply with these same standards whenever appropriate in our plant and equipment valuations.

The standards we follow are dictated by the type of valuation and its purpose. Depending on what is required, our plant and equipment valuations may comply with the following standards:

  • AASB 3 – Business Combinations
  • AASB 13 – Fair Value Measurement
  • AASB 116 – Property, Plant and Equipment
  • AASB 136 – Impairment of Assets
  • AASB 140 – Investment Property
  • AASB 117 – Leases
  • AAS 4 - Depreciation

As these standards have been based on the IFRS, we may also comply with the following when appropriate:

  • IAS 16 – Property, Plant and Equipment
  • IAS 41 – Agriculture
  • IFRS 6 – Exploration for and Evaluation of Mineral Resources

International Valuation Standards

Valuations are an essential service all over the world which is why the International Valuations Standards Council (IVSC) have come together to develop a set of standards that are universally accepted no matter what country a valuer practices in. These standards are known as the International Valuation Standards (IVS) and are followed by our valuers with each valuation. A few of their general standards include:

  • IVS 101 – Scope of Work
  • IVS 102 – Investigations and Compliance
  • IVS 103 – Reporting
  • IVS 104 – Bases of Value
  • IVS 105 – Valuation Approaches and Methods

More specific to asset valuations, the following may be followed by our valuers:

  • IVS 200 – Business and Business Interests
  • IVS 210 – Intangible Assets
  • IVS 300 – Plant and Equipment
  • IVS 400 – Real Property Interests
  • IVS 410 – Development Property
  • IVS 500 – Financial Instruments

Royal Institution of Chartered Surveyors

A highly respected body amongst property professionals throughout the world is the Royal Institution of Chartered Surveyors (RICS). Their standards have been developed to ensure trust between professionals and their clients. As registered members of this great institution, we strictly follow the appropriate RICS standards and guidelines with all valuations. RICS has also set standards that are specific for Australia that we follow closely. These are:

  • Aus VPGA 1 – ANZVPS (Australia and New Zealand Valuation and Property Standards)
  • Aus VPGA 2 – Australian State and Territory Licensing
  • Aus VPGA 3 – Privacy Legislation in Australia
  • Aus VPGA 4 – Exceptions to Compliance Requirements
  • Aus VPGA 5 – Compulsory Acquisition
  • Aus VPGA 6 – Native Title
  • Aus VPGA 7 – Australian Accounting Standards

When the situation calls for it, our professional team of valuers apply to following standards to their reports:

  • VPGA 5 – Valuation of Plant and Equipment
  • VPGA 8 – Valuation of Real Property Interests
  • VPGA 3 – Valuation of Businesses and Business Interests
  • VPGA 1 – Valuation for Inclusion in Financial Statements
  • RICS Professional Guidance, Global – Valuation of Mineral-bearing Land and Waste Management Sites 2nd Edition
  • RICS Guidance Note, Global – Measured Surveys of Land, Buildings and Utilities 3rd Edition
  • RICS Guidance Note, Global – Land Measurement for Planning and Development Purposes 1st Edition

Australian Property Institute

As an Australian-based company, it best serves our clients to follow standards that are most relevant to our nation. The Australian Property Institute (API) is the most recognised property organisation that sets and maintains the standards for all manner of property professionals including real estate agents, real property valuers and of course, plant & machinery valuers. Some examples of the API standards we adhere to include:

  • ANZVGP 109 – Valuation of Rural and Agribusiness Properties
  • ANZVGP 111 – Valuation Procedures – Real Property
  • ANZVGP 302 – Valuations of Real Property, Plant & Equipment for Use in Australian Financial Reports
  • ANZVGP 102 – Market Value of Property, Plant & Equipment in a Business
  • ANZVGP 206 – Due Diligence
  • ANZVGP 204 – Development Management
  • ANZVGP 205 – Feasibility Studies

Professional Valuation Standards You Can Rely On

Our valuers have been valuing property, plant and equipment for over 20 years each. During this time, they have performed to these standards as if second nature. They do not solely rely on experience. They continue to develop and maintain their practices to ensure their level of professionalism is up to date with today’s standards.

For more information about our plant and equipment standards or about our services, contact our office today. One of our specialists can answer any of your questions. Reach us via our contact form or call on (07) 3088 8036.