Global Standards for the world economy

Wednesday 28 September 2016

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Staff draft of a forthcoming IFRS on fair value measurement

19 August 2010


On 19 August 2010 the IASB posted to its website a staff draftof a forthcoming IFRS on fair value measurement that reflects the tentative decisions made to date by the IASB and the US Financial Accounting Standards Board (FASB).

The staff draft has been prepared by the staff of the IASB and the FASB for the boards’ joint project to develop a common standard on fair value measurement. The staff draft reflects the cumulative tentative decisions made by the boards, concluding with their joint meeting in March 2010. However, work on the project is continuing, and the tentative decisions reached so far are subject to change before the boards issue a common fair value measurement standard.

The staff draft is for information purposes only. The IASB is not seeking comments on the staff draft. However, interested parties may comment on the proposals in the FASB’s exposure draft (which is nearly identical to the staff draft of the IFRS) by submitting a comment letter to the FASB (the comment period for the FASB’s exposure draft ends on 7 September 2010). The boards will jointly consider the responses to their respective exposure drafts and the FASB will accept comment letters from IFRS constituents. The boards expect to issue a common fair value measurement standard in early 2011.

Questions about the staff draft of an IFRS should be directed to Hilary Eastman at