As a New Zealand company New Zealand Farming Systems Uruguay (NZFSU) required IFRS valuations for land and buildings associated with properties owned and operated in Uruguay.
Crighton Anderson has completed valuation work on the NZFSU portfolio which includes around 18 farm properties consisting of approximately 35,000 hectares.
Most farms have had extensive development completed. This was a complex project involving the engagement of Uruguay based valuers, review of the market and the valuation basis, auditing the development register against actual improvements, and quality control of valuation reports. Crighton Anderson has also provided a detailed report outlining methodology, process and standards that is ‘audit compliant’ and relied upon by auditors Ernst & Young and the NZFSU Board.