OUR VALUATION APPROACH

From a big picture perspective, our valuation approach is to visit our client’s premises, inspect all the assets requiring valuation, return to our offices to undertake research, finalise the valuation of each asset and then report.

From a detailed perspective, we will determine each asset’s technical specification, condition, age and anticipated remaining life. We will undertake research into the modern equivalent asset, noting its output, technological development and cost as new. The comparison between the existing and new asset determines the level of depreciation arising from the identification of those various types of obsolescence. This comparison determines the value of the existing asset. This process is undertaken for all high value assets. The individual low value assets are identified and valued collectively whilst on site,summarised by client asset category.

Our approach to the valuation of plant & equipment will comply with all Australian Taxation Office (ATO) and Australian Accounting Standards Board (AASB)valuation requirements.

In addition, our valuations comply with both local and international valuation standards issued by recognised valuation professional bodies such as the Royal Institute of Chartered Surveyors (RICS), the Australian Property Institute (API) and the International Valuations Standards Council (IVSC). The valuers at Mitchell Munn spent 3 years at University to learn the theory and now another minimum 35 years obtaining the practical industry experience required to implement those standards.