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One of the two conditions to adopting revaluation alternative is that revaluation should be made with sufficient regularity to ensure that CV do not materially differ from FV at the reporting date .
Pls, can you explain this to me and what do IFRS 16 mean by sufficient regularity ?
Thanks
This is difficult!
“Sufficient regularity” means, in this context, that the evaluations should take place sufficiently regularly that the carrying value of the asset does not differ dramatically from the market value
That COULD mean that the revaluations should be annual or it COULD mean that those revaluations should be bi- or tri-ennial
OK?
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