Appraisals have been in privatisation and the tendering out of central and local government and public sector services. Valuation Consulting Principals have acted for the National Audit Office on a number of occasions including public domain review and value for money studies of the benchmark valuation procedures in privatisations, for example London Buses and Channel Tunnel Rail Link.
And following the qualification of the 1999-2000 accounts of the Ordinance Survey, in his report to Parliament, Sir John Bourn, said that the decision not to value the National Topographic Database had resulted in a significant understatement of the Agency’s tangible fixed assets. It may also have distorted the view given by measures of reported financial performance e.g. the return on capital employed. The Controller and Auditor General instructed Valuation Consulting Principals to value the database and our conclusion was that it was unlikely to be less than £50 million.