'Heritage' asset valuation is dropped

By David Ainsworth, Third Sector, 2 July 2008

The Accounting Standards Board plans to drop proposals that could have forced charities to spend millions of pounds valuing rare or unusual assets.

The board had said that charities would have to value 'heritage' assets, such as the Rosetta Stone in the British Museum or stately homes in the care of the National Trust, despite the difficulty and cost involved. But it has now said such assets will need listing only if they...