2018/19 SARA - Review of Valuation Methodology

Tender description

Contract to gain assurance that the valuation methodology used in the Academy Sector Annual Report and Accounts (SARA) is fit for purpose. Accounting standards require that a professional valuation be undertaken on the estate occupied by the academy sector on a rolling five-year basis. A fifth of the estate, c £10-12 billion, is valued annually. Given the specialist nature of the estate, this is completed using a Depreciated Replacement Cost methodology developed by professional surveyors. The annual valuation spend is c £350,000 - £400,000. Contract awarded is to provide assurance over that methodology.