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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:

  1. assess, based on the feedback received, whether IFRS 13, Fair Value Measurement (IFRS 13) is working as intended; and
  2. 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:

  1. 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;
  2. continue liaising with the valuation profession, monitor new developments in practice and promote knowledge development and sharing; and
  3. 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.

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