Australian Valuations provides accurate and robust valuations in accordance with International & Australian accounting standards (IAS, AASB) and International Financial Reporting Standards (IFRS).
In respect to the valuation requirements of property, plant and equipment for organisations subject to compliance with these standards, Fair Value is the prescribed basis of value and is measured in accordance with IFRS13 – Fair Value Measurement, the Australian equivalent is AASB113 – Fair Value Measurement. In Australia reporting entities must comply with Australian Accounting Standards and Interpretations, as issued by the Australian Accounting Standards Board (AASB), and, where applicable, with the requirements of Corporations Act 2001.
‘Fair Value’ is defined as:
“…The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” 
Fair Value is a market-based measurement. The objective of a fair value is to estimate the selling price of the subject asset or assets that could be reasonably expected under orderly and current market conditions as at the effective date of valuation.
 AASB13 – Fair Value Measurement and IFRS13 – Fair Value Measurement