IASB request for views on FASB proposals

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21 Mar 2009

The IASB has published a request for views on proposals from the US Financial Accounting Standards Board (FASB) that deal with guidance on fair value measurement and impairments of financial instruments.

Both of FASB's proposals are in the form of draft Staff Positions (FSPs) and are intended to provide additional application guidance on fair value measurement and to amend the impairment requirements for certain investments in debt and equity securities. The proposals are:

Though the proposed FSPs are a direct response to US-specific requests, the IASB believes that (in the light of its commitment to work jointly with the FASB to address issues arising from the financial crisis) it would be useful to seek the views of interested parties on the FASB's proposed FSPs before deciding whether to publish formal proposals for public comment. Any proposed changes in IFRSs will be subject to due process. You can download the IASB Request for Views (PDF 61k) from the IASB website. The IASB would like to receive any views by 20 April 2009.

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