Plant and Machinery valuation is a complex practice which requires multi-disciplinary approach. It can make up to 80% of the total asset of a company hence very important to the company’s annual financial reporting. This study examines the compliance of Estate Surveying and Valuation Firms to the practice of plant and machinery valuation in Ondo State. Data was collected from primary sources. 60 questionnaires were administered out of which 40 were retrieved from Practicing Estate Valuers: this response rate represents 67% of the total number of questionnaires administered. The study reveals that Estate Surveyors and Valuers are familiar and knowledgeable in plant and machinery valuation task and that the professionals follows the plant and machinery valuation process. It was also found out that most of the problems that Valuers face during plant and machinery valuation assignments include; lack of database, expert bias, customers pressure, problems relating to confidentiality of customers information and methodological difference in the appraisal process. The research concludes by making recommendations to the Nigerian Institution of Estate Surveyors and Valuers (NIESV) and Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) to ensure that relevant data are made available at finger tips so as to improve the quality of the report that will be produced by practitioners in this field and that will make their reports more reliable to the public and the regulatory bodies ESVARBON and NIESV.