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IASB publishes fair value guidance

  • IASB (International Accounting Standards Board) (blue) Image

01 Nov 2008

The IASB has published educational guidance on the application of fair value measurement when markets become inactive.

The guidance consists of a summary document prepared by IASB staff and the final report of the expert advisory panel established to consider the issue:
  • The summary document sets out the context of the expert advisory panel report and highlights important issues associated with measuring the fair value of financial instruments when markets become inactive. It takes into consideration and is consistent with recent documents issued by the US FASB and the US SEC.
  • The report of the expert advisory panel identifies practices that experts use for measuring the fair value of financial instruments when markets become inactive and practices for fair value disclosures in such situations. The report provides useful information and educational guidance about the processes used and judgements made when measuring and disclosing fair value.
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