Written question asked by Stewart Hosie (Scottish National Party) on Thursday, 19 June 2008, in the House of Commons. It was due for an answer on Monday, 23 June 2008. It was answered by David Lammy (Labour) on Wednesday, 2 July 2008 on behalf of the Department for Innovation, Universities and Skills.

Departmental Buildings

Question: To ask the Secretary of State for Innovation, Universities and Skills how frequently his Department restates the asset values of its building estate.

Answer: The Department for Innovation, Universities and Skills was established under Machinery of Government changes in June 2007, the Accounting Policies for the Department for 2007-08 have been merged from the pre-existing Department for Education and Skills and the Department of Trade and Industry Accounting Policies. The Department's Resource Accounts are currently being audited by the National Audit Office.The Department restates the value its building estate in accordance with the requirements of the Royal Institute of Chartered Surveyors every five years at existing use value. Where appropriate, indices issued by the Office for National Statistics have been applied in intervening years. This information has been taken from the Department's accounting policy note which will form part of the resource accounts.

Secondary information