Group Capability

Fair Value Pro is much more than a simple valuation tool. It is also a highly complex professional valuation project management solution that can be used by valuation firms, Valuers-General, Governments or very large complex group structures to manage and produce valuations for a range of clients or subsidiaries.

 

With ‘Group Administrator’ access the user can create and manage as many ‘Clients’ as required.

 

From year-to-year the Group Administrator can then create new ‘jobs’ and provide limited access to the client to populate or update key inputs to the valuation. Following appropriate review by the professional valuer the final valuation and associated reports can be produced as a complete professional valuation.

Professional Valuers

With the in-built flexibility of the product there are a myriad of opportunities available for firms to customise their offerings and value-added activities. These might include collaborative work (where the client undertakes significant data capture) through to the provision of expert advice and delivery of Peer Reviews. It also provides the opportunity for firms without extensive experience in this specialised field to be able to produce high quality valuations and output with minimal training and setup.

 

With the ability to full tailor the valuation framework and data collection design combined with the delivery of mobile data collection capability it provides the opportunity for significant improvements in efficiency and quality of offerings.

Governments

Most governments either currently adopt or have committed to the adoption of accrual based accounting standards including the IFRS (International Financial Reporting Standards), IPSAS (International Public Sector Accounting Standards) or jurisdictional specific requirements such as Australian Accounting Standards (AASB)

 

Irrespective of the specific standards adopted Fair Value Pro provides a simple low-cost solution that delivers full compliance and the complete financial reporting package.

 

For those taking the first steps down the valuation path Fair Value Pro and its partners can support the implementation with appropriate training, development of policies and procedures, workshops, on-going Peer Reviews to enable a quick but well controlled progress to full compliance. This can also include specific tailored training for Auditors-General and Valuers-General including in-the-field training provided by experienced valuers.

 

The consistency of using a single process for all agency valuations also provides significant benefits for governments as a whole. This enables consistent application of methodology and assumptions and streamlining of processes and auditing. In addition it enables staff involved in valuation to freely move between agencies without needing to learn new processes and systems. Where necessary the data relating to government agencies can be stored directly on the government’s own server or cloud.

Complex Group Structures

Fair Value Pro provides a single solution for all subsidiaries and related entities to undertake their annual valuations and ensure all valuations are available for easy consolidation and audit.

 

Each entity can be assigned as a separate ‘client’ with valuations undertaken using the relevant currency. If desired each entity can apply bespoke asset hierarchies and assumptions or adopt a consistent framework as necessary.

 

Each entity may also engage professional consultants to assist in the valuations. However with all data and the associated valuations stored in Fair Value Pro the Group Administrator is able to monitor progress based on a entity-by-entity basis and can undertake whole of group validation and audit reviews.

 

With on-line access the external auditors are also able to undertake their own testing from their central office or provide access to one of their valuation specialists.