RICS draft guidance note - Depreciated replacement cost method of valuation for financial reporting (1st edition)

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This consultation will close on at midnight on Tuesday 17th July 2018.

RB UK 2014 UK GN 2 Depreciated replacement cost method of valuation for financial reporting has recently been reviewed and updated by the RICS Public Sector Valuation Working Group.

Because its application is not just UK-specific, it was decided to update the content and publish  as a “stand alone” global GN. It is not therefore included in the recently updated Red Book Global 2017 UK National Supplement (Red Book UK 2014).

The purpose of the updated guidance note is to provide information on the use of the depreciated replacement cost (DRC) method and highlight the reporting requirements outlined in RB Global 2017 and the RB Global 2017 UK National Supplement that are particularly relevant when the DRC method of valuation has been used.

Please note the references in the GN are to the updated Red Book Global 2017 UK National Supplement which has also been released for public consultation on iConsult.

To review the Red Book 2017 UK National Supplement, please click here.

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Timeline

  • Opened
    5 Jun 2018 at 12:00
  • Closes
    17 Jul 2018 at 23:59
  • Response Published

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