RSS feedsThe ASB has rolled out its latest consultation on how the UK’s priceless national treasures should be treated on the books of the institutions that own them.
The ASB’s FRED 42 exposure draft on heritage assets calls for more disclosure on the value of the collections, even if they are kept off the balance sheet. Advisers said institutions such as the British Library, which owns the Lindisfarne Gospels, and the National Gallery would have to look at their reporting again if the proposals were pushed through.
Heritage assets have been a sticking point since 2006 because of the difficulty of putting a value on priceless works. Without a price tag, assets must be kept off the balance sheet, which could wipe millions off institutions’ books.
Ken Wild of Deloitte said the issues were problematic: ‘How do you go about putting a value on Stonehenge or Trafalgar Square?’
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