Certificate in Asset Valuation

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New course dates will be added soon. To register your interest, contact customerservices@cipfa.org 

About this course

This CIPFA Asset Valuation Certificate will provide you with the tools to ensure compliance with the requirements and process of undertaking local authority asset valuations for financial statements. It will take you through a series of four modules, ranging from why the valuations are required, the relevant rules and regulations, valuation approaches to be deployed, depreciation accounting, procurement and local audit. Plus a lot more!

Valuation for accounting purposes is not easy: it’s a niche area and is rarely something that a valuer will have been trained in during their qualification process. As accounting regulations change and auditor scrutiny increases, interpreting and keeping up to date with the various regulations and standards to ensure compliance can be a tricky and time-consuming task. Any misinterpretation can become embedded into locally accepted practice making for an uncomfortable audit process.

This course will not only provide you with a CIPFA accredited qualification, but is designed to help you:

• Understand regulations and requirements around undertaking local authority asset valuations,
• Equip you with the tools required to undertake valuations on the relevant basis and using the various approaches available,
• Oversee local authority asset valuations undertaken by members of your team or by external valuers,
• Commission your asset valuation programme,
• Gain an improved understanding of local audit.

On completing the course you will have gained an understanding of the key requirements of the:

• The CIPFA Code of Practice on Local Authority Accounting insofar as it relates to valuations for the balance sheet and related disclosures including bases of value, valuation frequency, componentisation, impairment, IFRS 16 etc,
• RICS Valuation Professional Standards insofar as they relate to local authority asset valuations for accounting purposes, together with associated practical examples and tips to ensure compliance and best practice,
• International Standards on Auditing as adapted for the UK and practical tips for a smoother audit process, 

The course will also introduce you to staff at CIPFA who you will be able to contact into the future with your valuation queries, along with valuers from the RICS and JLL.

Who is the course aimed at?

• ­Professionals requiring an entry level introduction to undertaking local authority asset valuations for financial statements.
• Those with existing knowledge or experience seeking a structured refresher.
• Those seeking to achieve a certificate demonstrating their understanding of undertaking local authority asset valuations.
• Auditors and auditor’s valuations seeking to improve their understanding of property valuation for local authority accounting purposes.

It will also be of interest to:

• Local authority finance professionals that want to broaden their understanding of the valuation process.­
• Non-valuation property professionals that oversee the valuation process or simply want to learn more about it.

Course outline

The course is delivered over four modules:

Module One: Rules of the Game

First Principles:

• Purpose of asset valuations,
• Key accounting requirements,
• Asset categories,
• Asset registers.

Valuation basis:

• Basis of measurement,
• Valuation approaches

The nuts and bolts:

• Valuation frequency,
• Valuation date,
• Market review,
• Project management,
• valuation ‘hot topics’.

Sustainability and property valuation:

• Background,
• RICS standards and guidance,
• Inspection and reporting,
• Practical implications.

Module Two: The Valuation Process ­

Professional standards:

• Ethics,
• Skills,
• Standards,
• The Valuation process,
• Valuation Programme,
• Working papers and record keeping,
• Valuation outputs,
• Valuation reports,
• Moderation process,
• Local audit,
• Local audit review,
• The role of local audit,
• Top tips.

Module Three: Focus on Valuation

• Basis of ‘measurement’ for asset category groups,
• Valuation approaches - market, income and cost,
• Valuation techniques and worked examples including:
  • Comparable,
  • Income (investment method),
  • Profits,
  • Depreciated Replacement Cost,
  • Residual method.

Module Four: Lease Accounting, Depreciation and Componentisation

• Valuation of Lease interests,
• Depreciation,
• Component accounting,
• Impairment,
• Commissioning asset valuation work and close.

Duration

The CIPFA Certificate in Asset Valuation is completed over four days and is taught via live, online classroom sessions by a variety of experts.

Assessment

The course is assessed at the end of each module through multiple choice tests.

Accreditation

On successful completion of the course, you will receive a CIPFA Certificate in Asset Valuation.

CPD hours

19 hours.

All CIPFA training counts towards your continuing professional development (CPD). If you are a CIPFA Chartered Member or RICS professional (an AssocRICS, MRICS or FRICS), you are required to undertake a minimum of 20 hours of relevant CPD activity each year as part of maintaining your professional competence and to develop skills and knowledge.

Price

£1,600 +VAT per delegate. The course fees include tuition, all course materials ­and certification.

Delegates who are part of the CIPFA Property Training Network (PTN), and Finance Advisory Network (FAN) pay a discounted rate of £1,400 +VAT.

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Property Asset Valuation: A Handbook for Property and Finance Professionals in Local Authorities (2016 Edition) - This guidance examines in detail the many complex issues surrounding local authority property assets including classification, valuation and component accounting. It further explores these areas by providing practical examples based on real situations. Fully updated since the original 2012 edition, this new edition provides comprehensive guidance around the requirements of IFRS 13 for property asset valuations.