Deloitte comment letter on Discussion Paper 'Fair Value Measurements'

Published on: 04 May 2007

We support the inclusion of fair value measurement on the convergence agenda with the FASB.

Before an exposure draft can be issued, a thorough analysis of all standards is needed to establish where the term fair value is currently used, what it is intended to mean. Without this analysis we do not believe an overarching measurement standard, defining current value1 measurements, can be developed. In addition, fair value measurement, as defined in the DP, is only one measurement attribute. We are not convinced that this represents the most relevant attribute for all items.


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