Overview
Engaged to deliver financial reporting and insurance valuations for a large Government Support Based Portfolio. Required alignment with international valuation standards, Australian Accounting Standards, and Treasury Guidance requirements.
Scope
- Valuation of all land, buildings and infrastructure across 100+ locations including very remote areas.
- Included comprehensive inspections of all assets including significant travel to far reaching communities.
- Included condition assessments, updated asset data, and componentised financial asset records for the asset base.
Approach
- Robust project management framework with Gantt charts, SharePoint access, milestone tracking, and structured stakeholder meetings.
- Comprehensive reporting with asset descriptions, useful life estimates, and condition ratings.
- Close collaboration with the relevant property teams to gain a greater understanding of changes, challenges, utilisation, and fit-for-purpose aspects of the asset base.
- Consideration of recent and significant weather events as to the impact on the asset base condition, potential stigma, and any impact on value.
Outcome
- Delivered detailed, audit-ready valuations that exceeded client expectations.
- Significantly improved financial reporting outcomes under audit scrutiny, achieving the clients strongest result to date.
- Established a benchmark for future valuation engagements.
- Strengthened client partnership through transparency, compliance, and quality execution.