The valuation of assets under the accounting standards is a highly technical area and traditionally undertaken by experienced valuers with detailed knowledge of over a dozen complex accounting standards. As a consequence of the knowledge and specialist skills requirements and the associated risk of making material errors the cost of engaging professional valuers has traditionally been very high.
Fair Value Pro however now provides every entity with the ability to undertake their own valuations in full compliance with the relevant standards without need to have the detailed knowledge or extensive specialist expertise. This has been achieved by leveraging off the experience and intellectual property of international experts in this complex area and building it within the system. The result is a single system that any officer in the entity can use to record assets and produce valuations without the need to have detailed knowledge of the nuance of the various accounting standards or valuation methodology.