The ED proposes that companies disclose sensitivity information ('measurement uncertainty analysis') about all 'Level 3' fair value measurements included in financial statements - not just for financial instruments, but also other items such as investment properties, biological assets and property, plant and equipment measured on the revaluation basis.
The questionnaire is targeted at users of financial statements, particularly analysts, and requests feedback in areas such as:
- The usefulness of 'measurement uncertainty analysis' to different categories of assets and liabilities
- How measurement uncertainty analysis information is used - 'worst case' or 'best case' scenarios, or for other uses
- Whether information presented by class of asset and liability is sufficient
- Additional disclosures that would be useful.
The deadline to complete the questionnaire is 7 September 2010. The questionnaire can be accessed on the IASB website. More information on the proposals is available in our IFRS in Focus newsletter (PDF 60k) and our Fair value measurement project page.