Infrastructure Revaluation Report

An Infrastructure Revaluation Report is a report that is designed to show that the valuations and revaluations of infrastructure assets carried out by an organisation such as a Council, comply with the Australian Accounting Standards and the Local Government Act 1989, and as such, have been completed with reference to the following:

  • The Australian Accounting Standards Board AASB 13, “Fair Value Measurement”;
  • The Australian Accounting Standards Board AASB 116, “Property, Plant and Equipment”;
  • The Australian Accounting Standards Board AASB 136, “Impairment of Assets”;
  • International Valuation Application 3 – Valuations of Public Sector Assets for Financial Reporting.

The report documents the revaluation process including a review and/or calculation of the following:

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