The public sector includes central government, local government and public corporations.
There are many RICS valuation professionals who are employed both internally by public sector organisations and by external consultancies, who specialize in providing independent, impartial valuation and professional property advice across the entire public sector, and where public money or public functions are involved.
This dedicated page brings together useful information for those involved in public sector matters. Whilst most of the content is currently focused on the UK, our hope is to develop this further on a global basis going forward. As a reflection of this, RICS was pleased to co-operate with the International Public Sector Accounting Standards Board in respect of their recent international public sector valuation measurement project.
Professional Standards and Practice Information
RICS’ response to HMT’s thematic review of non-investment valuations consultation
With member input, RICS responded to HMT’s thematic review of non-investment valuations which consults on changes that will affect Financial Reporting Manual adaptations and interpretations of the International Accounting Standard 16 relating to property and plant equipment and International Accounting Standard 38 in respect to the measurement of assets. The Treasury was seeking views on alternative valuation options and proposed changes to due process and invited comment on all options presented. You can read the RICS comment here.
Published date: 25 July 2023