PracticeAuditSMEs encouraged to review fair value

SMEs encouraged to review fair value

Small businesses urged to review assets and risks well before year end by ACCA chief

SMEs have been advised to get early agreements on the valuation of their
stock and all ‘fair value’ items on their balance sheet, by Allen Blewitt, ACCA
chief executive.

He recommends small and medium sized enterprises plan ahead keeping a tight
reign on their cashflow and a cool head in the current climate.

‘While it is tempting to worry about the global situation, a level and
sensible approach is needed during these turbulent times,’ he says on the
BBC
business website.

In particular he advises SMEs with December year ends to start thinking about
the value of their assets now and revisit their risk register and whether
measures to mitigate risk are still valid.

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