Final answer:
A re-certification of value must be performed when there is a need to verify the current value of an asset or property. It is commonly done for assets that are subject to depreciation or that have fluctuating values. This process is important in various industries such as real estate, fleet management, and investment management.
Step-by-step explanation:
A re-certification of value must be performed when there is a need to verify the current value of an asset or property. It is commonly done for assets that are subject to depreciation or that have fluctuating values. For example, in the real estate industry, re-certification of value is often conducted periodically to assess the current market value of properties.
One example of when a re-certification of value is necessary is when a company owns a fleet of vehicles. Over time, the value of these vehicles may depreciate, so it is important to re-certify their value periodically to ensure accurate financial reporting.
In the world of investments, re-certification of value is crucial for portfolios that hold stocks, bonds, or other financial instruments. This helps investors and fund managers stay updated on the current worth of their holdings, allowing them to make informed decisions about buying, selling, or holding assets.