Rest Assured Paper - July 2002

Local authorities are currently wrestling with the thorny issue of not only how to account for heritage assets but what actually constitutes such an asset. Head-scratching challenges may include the most appropriate method of valuing such diverse assets as a native moth collection, a century-old town hall building and a tree. Audit New Zealand sees strong value in encouraging debate within the sector and an exchange of ideas on best practice. To that end, we have prepared a discussion paper covering the sector's likely approach, directing local authorities to relevant guidance, and providing suggestions on areas such as valuation and capitalisation of expenditure for a variety of asset groups.

auditnz-lg-paper-2002-07.pdf — PDF document, 336Kb