FDPPI has set up a working group to develop a code of practice to bring data value into the financial statements of companies. The main objective is to bring “Visibility” to the value of assets held by an organization in the form of Data which needs to be secured. It may also help in the proper valuation of the organization in times of Mergers and Acquisitions and when insolvency petitions are considered by NCLT.
The suggestion is to develop a methodology for valuation acceptable to the larger sections of the society including the Government and the community of accountants. Hence FDPPI invites suggestions from the public on how data can be valued.
Presently we are focusing on Personal Data and the same methodology with suitable modifications would be extended to Non Personal Data when the new law as suggested by the Kris Gopalakrishnan committee is near finalization.
In order to trigger the thoughts we are making the initial version of suggestions placed before the committee by Naavi
Comments can be sent to the Committee to reach them before May 31st 2021, through e-mail email@example.com with the subject line marked “Data Valuation”.
Please do contribute your thoughts.