Post-implementation review of IFRS 13 – International Accounting Standards Board
Date recorded:
At its meeting on March 22, 2018, the International Accounting Standards Board (the Board) met to:
- assess, based on the feedback received, whether IFRS 13, Fair Value Measurement (IFRS 13) is working as intended; and
- decide whether, as a result of the Post-implementation Review (PIR), it wants to consider performing any follow up work.
The Board concluded that IFRS 13 is working as intended.
The Board decided to:
- feed the PIR findings regarding the usefulness of disclosures into the work on Better Communications in Financial Reporting, in particular, the projects on Principles of Disclosure and Primary Financial Statements;
- continue liaising with the valuation profession, monitor new developments in practice and promote knowledge development and sharing; and
- conduct no other follow-up activities as a result of findings from the PIR, for example not to perform any work in the area of prioritizing the unit of account or Level 1 inputs because the costs of such work would exceed its benefits.
The staff will prepare a Report and Feedback Statement on the PIR.
Review the IASB® Update and podcast on the Board's Web site.
