Guidance on measuring fair value is distributed across many IFRSs, and it is not always consistent. Furthermore, the current guidance is incomplete, in that it provides neither a clear measurement objective nor a robust measurement framework. The Board believes that this adds unnecessary complexity to IFRSs and contributes to diversity in practice.

Project news

26 August 2010 Table of concordance between IASB staff draft and FASB exposure draft has been posted.

19 August 2010 A staff draft of a forthcoming IFRS on fair value measurement that reflects the tentative decisions made to date by the IASB and the US FASB is posted on the website.

30 July 2010 The IASB and FASB have posted a joint webinar to introduce the FASB exposure draft.

Click here  to see all previous project news on this project.

Last IASB meeting update

8 April 2010

The Board discussed whether there is a need to re-expose a draft of an IFRS on fair value measurement.

The Board tentatively agreed to publish a limited scope exposure draft of the measurement uncertainty analysis disclosure, including a proposal to require entities to consider the effect of correlation. The comment period of the exposure draft will coincide with the FASB’s comment period for an exposure draft of proposed amendments to Topic 820.

Read the full meeting update and all previous updates and observer notes for this project.

Click here to listen to the IASB meeting audio playback.

Next discussion by the IASB

The IASB and the FASB will discuss the comments received on the FASB’s exposure draft of proposed amendments to Topic 820 and the IASB’s exposure draft of the proposed measurement uncertainty analysis disclosure for Level 3 fair value measurements.

This will be discussed by the IASB at September 2010 meeting.