Overview
Independent Asset Valuation
for Reporting & Transactions
Shasat provides independent fair value assessments for the full range of tangible and intangible assets — supporting financial reporting, acquisitions, impairment testing, regulatory compliance and commercial transactions. Our reports are structured to meet the requirements of auditors, regulators and boards.
Asset valuations are required across a wide range of circumstances under IFRS and US GAAP — from the initial recognition of assets acquired in a business combination to annual impairment testing, revaluation under the IAS 16 revaluation model, and fair value disclosures under IFRS 13. Each context demands a different level of rigour, evidential standard and disclosure.
Shasat's valuation specialists combine deep knowledge of the applicable accounting and valuation standards with active market experience — applying income, market and cost approaches based on the nature of the asset, the purpose of the valuation and the quality of available data.
Scope of coverage
Tangible & Intangible Assets
Shasat values assets across both categories — with particular depth in complex, illiquid and sector-specific assets where independent specialist expertise is most critical.
Real Estate & Property
- Commercial & residential property
- Investment property under IAS 40
- Right-of-use assets under IFRS 16
- Land and development sites
- REITs and property funds
Plant, Machinery & Equipment
- Manufacturing plant and lines
- Specialist industrial equipment
- Oil, gas and energy infrastructure
- Fleet and transportation assets
- Medical and laboratory equipment
Intellectual Property & Intangibles
- Brands, trademarks & trade names
- Patents, licences & know-how
- Customer relationships & contracts
- Software, algorithms & platforms
- Sports clubs, franchises & media rights
Infrastructure & Specialised Assets
- Utility and transmission infrastructure
- Airports, ports & transport networks
- Concession rights & service agreements
- Government and public sector assets
- Natural resources & mining rights
Methodology
Valuation Approaches
IFRS 13 and IVSC recognise three accepted valuation approaches. Shasat selects the appropriate approach — or a combination — based on the nature of the asset, the purpose of the valuation and the quality of available data.
01
Market Approach
Uses prices and other relevant information generated by market transactions involving identical or comparable assets. Applied where active comparable transactions are observable — common for real estate, quoted equity and standardised equipment. The preferred approach under IFRS 13 where Level 1 or Level 2 inputs exist.
02
Income Approach
Converts future economic benefits into a present value amount. Techniques include discounted cash flow (DCF), multi-period excess earnings method (MEEM) and relief-from-royalty. Applied for intangible assets generating identifiable economic benefits — brands, customer relationships, patents, software and concession rights.
03
Cost Approach
Reflects the amount required to replace the service capacity of an asset — either its reproduction cost (replica) or replacement cost (equivalent utility). Applied where market or income approaches are impractical — commonly used for specialised plant, machinery, infrastructure and internally developed software.
Accounting standards
Standards We Apply
| Standard | Scope & relevance to asset valuation |
|---|---|
| IFRS 13IFRS | Fair Value Measurement — the primary framework defining fair value, the three-level hierarchy and required valuation techniques for all fair value measurements across IFRS financial statements. |
| IAS 16IFRS | Property, Plant & Equipment — permits the revaluation model under which PPE is carried at fair value at the date of revaluation, requiring periodic independent assessment of current market value. |
| IAS 36IFRS | Impairment of Assets — requires annual impairment testing for goodwill and intangibles with indefinite lives, and testing when impairment indicators exist. Recoverable amount is the higher of fair value less costs of disposal and value in use. |
| IAS 38IFRS | Intangible Assets — governs initial recognition, subsequent measurement and amortisation of identifiable intangible assets. The revaluation model requires reference to an active market for the specific class of intangible. |
| IAS 40IFRS | Investment Property — entities applying the fair value model must determine fair value at each reporting date, typically requiring periodic independent professional assessment. |
| IFRS 3IFRS | Business Combinations — requires purchase price allocation (PPA) of the acquisition cost across identifiable assets and liabilities at fair value, frequently requiring independent intangible asset and tangible asset valuations. |
| ASC 820 / ASC 360 / ASC 350US GAAP | US GAAP fair value measurement, long-lived asset impairment and goodwill & intangibles — the equivalent framework for entities reporting under US GAAP, substantially converged with IFRS in methodology. |
| IPSAS 17 / IPSAS 31IPSAS | Public sector standards for property, plant & equipment and intangible assets — applied by central banks, government entities and supranational organisations. Shasat supports public sector clients with IPSAS-compliant valuations. |
| IVSC IVSIVSC | International Valuation Standards — the global methodology framework for all asset classes issued by the International Valuation Standards Council, providing detailed guidance on application of the three valuation approaches. |
When you need us
Common Use Cases
Asset valuations are commissioned across a wide range of financial reporting and commercial contexts. The most common engagements Shasat supports are:
IAS 16 Revaluation
Periodic fair value assessment of PP&E under the revaluation model for IFRS financial statements.
IAS 36 Impairment Testing
Annual goodwill impairment tests and triggered impairment reviews — recoverable amount determination for CGUs.
IFRS 3 — Purchase Price Allocation
Post-acquisition identification and fair valuation of all identifiable assets and liabilities for business combinations.
M&A Due Diligence
Pre-acquisition asset valuation for transaction pricing, SPA mechanics and regulatory filings.
Startups & Technology Companies
Valuation of IP, software platforms, algorithms and customer-related intangibles for funding rounds and IFRS adoption.
Regulatory & Tax Compliance
Independent valuations for transfer pricing, inheritance tax, capital gains and regulatory reporting requirements.
Frequently asked questions
Common Questions
IFRS 13 sets the fair value measurement framework for all IFRS reporters. IAS 16 governs property, plant and equipment — including the revaluation model. IAS 38 covers intangible assets. IAS 36 requires impairment testing when indicators exist or annually for goodwill. IAS 40 addresses investment property. US GAAP equivalents are ASC 820, ASC 360 and ASC 350. IVSC International Valuation Standards provide the global methodology framework, applied by Shasat across all engagements.
Tangible assets have physical substance — real estate, plant, machinery, infrastructure and equipment. Their valuation typically relies on market evidence (comparable sales, replacement cost depreciation) and is more straightforward where active markets exist. Intangible assets lack physical form — brands, patents, customer relationships, software and licences. Their valuation requires income-based approaches such as multi-period excess earnings or relief-from-royalty, and involves greater estimation uncertainty, requiring more detailed methodology documentation under IFRS 13.
Independent valuations are required in a number of specific circumstances: the IAS 16 revaluation model requires sufficient regularity to ensure carrying amount does not differ materially from fair value; IAS 36 impairment testing requires determination of recoverable amount when indicators exist; IFRS 3 purchase price allocations require fair value of all identifiable assets at acquisition; and IFRS 13 Level 3 disclosures require enhanced documentation of unobservable inputs. Auditors typically require independent third-party evidence for material asset fair values in all these contexts.
Yes. Shasat specialises in valuing technology platforms, SaaS software, proprietary algorithms, patents and other IP-driven assets common to startups and scale-ups. We apply the income approach (multi-period excess earnings, relief-from-royalty) and cost approach (reproduction cost, replacement cost) as appropriate to the asset type and available data. We also support startup founders and CFOs with IFRS 3 PPA exercises following funding rounds and strategic acquisitions.
Yes. Shasat's valuation reports are regularly relied upon by Big Four auditors as independent third-party evidence for asset fair value measurements. Our reports contain full methodology documentation, market data sourcing, assumption rationale, sensitivity analysis and IFRS 13 Level 3 disclosure-ready outputs — precisely the structure required by audit teams to sign off on material asset fair values.
Also from Shasat