Case Study 1 – 2015 – State Government Entity
The project we were provided was a revaluation for Financial Reporting and Insurance purposes. With regards to the Financial Reporting component, the prior methodology had not been conducted in accordance with AASB 13, the asset register was inconsistent and incomplete, and many of the assets were not able to be identified, which made it difficult for the client to reconcile actual physical assets with what was listed in their accounting system. Australis brought the valuation methodology into line with AASB 13, as well as re-collected all assets and reformed a systemised easy to understand asset register, linked to GPS co-ordinates on an individual asset basis. The valuations also took account of component breakdowns (for buildings and infrastructure) and a review of the lives formerly used in line with what was actually occurring to the physical assets. Land valuations were also conducted that took into account the highest and best use of each site owned by the entity.
Case Study 2 – 2015 – New Zealand Local Government
Australis were commissioned to undertake buildings valuations for Financial Reporting purposes as well as an Asset Data Collection and Condition Audit to assist the client with the Asset Management requirements. The Audit and condition assessment was undertaken by a qualified valuer and performed on a detailed (up to 17) component level. In addition, each building asset was rated having regard to Disabled Access, Heritage/Cultural classifications, Importance, Functionality and level of Maintenance required. Brownfield replacement estimates as well as flags for immediate repairs were also a part of the deliverables.