Valuation of Assets

Concepts

• rics valuation professional standards
• newport
• real estate
• valuation of assets
• valuation of its assets
• international valuation standards and international standards on auditing
• international valuation standards
• local authority asset valuations
• valuations
• valuation frequency

Location

Isle of Wight:

Description

Provision of a specialist practice to undertake a valuation of its assets in order to comply with CIPFA Code of Practice on Local Authority Accounting, RICS Valuation Professional Standards and the International Valuation Standards and International Standards on Auditing.

Total Quantity or Scope

The Authority requires its assets valued in order to comply with • CIPFA Code of Practice on Local Authority Accounting insofar as it relates to valuations for the balance sheet and related disclosures including bases of value, valuation frequency, componentisation, lease classification, impairment etc., and associated practical approaches, including the key changes arising from IFRS16 • RICS Valuation Professional Standards and the International Valuation Standards insofar as they relate to local authority asset valuations, together with the associated practical approaches. • International Standards on Auditing as adapted for the UK and gain practical tips for a smoother audit process Further competition carried out under ESPO Framework 2700_22. Additional information: The value at II.1.7 refers to the initial term value. If both extensions are utilised then the whole life cost would be in the region of £225,000. IV.1.1 refers to a further competition process under ESPO Framework 2700_22.

Award Detail

Renewal Options

2 x 12 month extensions taking the end date to 31 December 2027

Award Criteria

CPV Codes

• 70000000 - Real estate services
• 79210000 - Accounting and auditing services

Indicators

• Options are available.

Legal Justification

A further competition process had been carried out under ESPO Framework 2700_22 Estates Management Professional Services.

Other Information

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