People assets must be figured out some way

Alan Mitchell quite rightly has concerns about the effects of the new international accounting standards (MW February 17), but to dismiss measuring return on investment as proof of the “Marie Celeste mindset gaining ground”, goes too far.

Intangible assets such as people attributes are critical. Research from Aon suggests that physical assets represent less than 25 per cent of the worth of most organisations – down from 75 per cent a decade ago. But it is only through the effective use of evaluation metrics that people can make the right connections to build momentum.

Patrick Barrow

Director-general, managing director

PRCA

London SW1

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