Property valuations in company accounts should be revamped to reflect the
fees paid on sale, a leading property industry figure has said.
Donald Gordon, former chairman of
FT that he thought that the system of accounting that excludes the fees
leads to an undervaluation of listed property companies as a whole.
Properties that cost £100m may effectively cost up to several million pounds
more when stamp duty and fees are taken into account, Sir Donald said.
The former property magnate intends to pursue the issue with accounting
regulators, the paper reported.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned