Overview
Engaged to deliver financial reporting and insurance valuations for a State Train & Tram Network including buildings, infrastructure and rolling stock. Required alignment with international valuation standards, Australian Accounting Standards, and Treasury Guidance requirements.
Scope
- Valuation of all train & tram corridors, stations, depots, supporting infrastructure, land, and rolling stock.
- Included comprehensive inspections of all assets including operational & maintenance facilities, rolling stock and transport corridors.
- Included condition assessments, updated asset data, and componentised financial asset records for the asset base.
- Fixed Asset Register advisory and refinement for accuracy.
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 operations teams to gain a greater understanding of changes, challenges, utilisation, and fit-for-purpose aspects of the asset base.
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 in the train/tram sector.
- Strengthened client partnership through transparency, compliance, and quality execution.