MVDC AH PROPERTY EVALUATIONS FOR THE PURPOSE OF IFRS REPORTING AND INSURANCE VALUATIONS - AWARD

To comply with IFRS requirements the Council intends to appoint an appropriately experienced firm of Valuers to undertake asset valuations of the Council's portfolio of property, this is the core service of the contract.

The Valuer must complete the valuation report in accordance with the following guidance relating to asset valuation for capital accounting purposes:

• oRoyal Institution of Chartered Surveyors (RICS) Valuation- Professional Standards 2014 (Revised 2015) and RICS Valuation - Global Standards 2017 ('The Standards')
• oInternational Financial Reporting Standards (IFRS)
• oChartered Institute of Public Finance and Accounting Code of Practice on Local Authority Accounting ('The CIPFA Code')

There are approximately 200 assets that require valuing. The MVDC properties are predominantly spread across the entire geographical area that is administered by the Council. The MOVA portfolio is located further afield including Wales, Basingstoke and Stratford. The details of all the assets will be provided to the successful bidder.