Maybe I'll start with the accounting policy, Mr. Chair, and then leave it to the Auditor General to address his observation.
The way the assets are recorded is with their purchase price, so it's cash and what we actually paid to acquire or build it. Then, once the asset is in service, it is depreciated over what we estimate its useful life to be. If, during its useful life, we get a sense that our estimate is wrong, we will do a writedown of that asset to write it down to what we think its real value is. You will not see us revaluing assets for fair value, as you would with your real estate to see what's it really worth. This is historical cost. If it's a building or a tangible asset, we depreciate it. With land, obviously, we don't depreciate land—land does not depreciate—but it's based on what we paid for it, not what it's actually worth.
I'll let the Auditor General add any comments on his observation.