№ lp_1_2_26286
Regulatory guidance detailing requirements and procedures for assessing fair value movements and determining managerial, interim, or formal revaluations of land and buildings under FRD 103 using cumulative valuation indices and prescribed materiality thresholds.
Document type: Regulatory guidance
Standard referenced: FRD 103 Non-Financial Physical Assets
Subject: Fair value assessment and revaluation of non-financial physical assets
Asset classes: Land and buildings
Jurisdiction: Victoria, Australia
Responsible bodies: Department of Treasury and Finance; Valuer-General Victoria
Valuation approach: Annual fair value assessments using indices
Indices provider: Valuer-General Victoria
Revaluation types: Managerial revaluation; Interim revaluation; Formal revaluation
Materiality thresholds: Greater than 10 per cent; Greater than or equal to 40 per cent
Reporting periods: 30 June reporters; 31 December reporters
Approval authority: Chief Reporting Officer
Intended audience: Public sector entities subject to FRD 103
Price: 8 / 10 USD
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