Marco Koot, an accounting partner of Vanhier, has recently written a report and summary article outlining what the REVALUE project findings mean for financial accounting and auditing.
In this article, the aspects of financial accounting and auditing in regard to the valuation of properties are discussed. The accountant will have to rely, to a large extent, on valuation reports from the valuers in regard to the value of the properties. If investments in EE lead to a higher value of the properties in the valuation reports of the valuers, the following matters are important for the accountant:
- does the higher value in the reports of the valuers also lead to a higher value in the annual accounts according to the current accounting standards?
- what (additional) audit activities should the accountant perform in regard to the (higher) value of the properties?