IASB releases draft on fair value option

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22 Feb 2005

The IASB has released a preliminary draft of a possible new approach to the fair value option in IAS 39 for discussion at public roundtable meetings that the Board will conduct on Wednesday 16 March 2005 at the Crowne Plaza City Hotel, 19 New Bridge Street, London, 8:30am-4:00pm.

The IAS 39 fair value option permits entities to designate, at the time of acquisition or issuance, any financial asset or financial liability to be measured at fair value, with value changes recognised in profit or loss. When the European Commission adopted IAS 39 for use in Europe, they prohibited companies from applying the fair value option to liabilities on grounds that such treatment is inconsistent with the European accounting directives. You can Download the Fair Value Option Draft from the IASB's website.

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