Hon George Cash asks about the WA Police Service's management and valuation of intellectual property assets. The Police Service confirms asset registration but lacks specific IP valuation and identification in financial reports.

AnsweredQoN 435Legislative Council
Asked
5 March 2003
Portfolio
Police and Emergency Services

QuestionView source ↗

(1) Do the respective Departments or Agencies within your portfolio maintain a current register which lists the assets comprising the Intellectual Property of the respective Departments or Agencies?
(2) If not, why not?
(3) Are these assets valued on an annual basis?
(4) If not, why not?
(5) What is the capital value of these assets?
(6) Do the assets comprising the Intellectual Property of these Departments or Agencies appear in their respective balance sheets or Annual Reports?
(7) Will you table a copy of the respective registers?
(8) If not, why not?

AnswerView source ↗

Answered
3 April 2003
Responded by
Minister for Racing and Gaming representing the Minister for Police and Emergency Services
Response time
29 days
Western Australia Police Service (1) All assets are registered in accordance with Treasurer’s Instruction 410 including those assets that could be considered to be Intellectual Property. (2) N/A (3) No. (4) All assets are initially recognized at cost but may be revalued to fair value under AASB1041. (5) Capital values of assets are not specifically recorded under the heading of Intellectual Property and at this point in time values are not readily available. (6) Yes, but are not identified as Intellectual Property. (7 – 8) N/A, refer to 5 and 6.

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