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Conceptual Framework Phase C — Measurement

Date recorded:

The Boards discussed the next step in the measurement chapter of the conceptual framework. The Boards unanimously disagreed with the staff proposal to develop a neutral discussion paper. Given the fundamental importance of the issues and relevance of them to constituents, the Boards decided to develop a preliminary views paper and deliberate the questions. Without discussing any question at the meeting, the Boards asked the staff to base the agenda papers for deliberations on the list of issues identified in the staff paper.

One IASB member noted that the questions to constituents should be based on the issues on which the Boards would not reach consensus together with alternative views. In addition, he suggested that the questions to constituents should also focus on the usage of particular measurement attributes (fair value, amortised cost, expected value) that the Boards struggled to use consistently at the Standard level. The Boards agreed.

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