Deloitte comment letter on the IASB's post-implementation review of IFRS 13
We have responded to the IASB's Request for Information, Post-implementation Review — IFRS 13 Fair Value Measurement, that was published in May 2017.
We believe IFRS 13 has had a positive effect on financial reporting and applaud the IASB and FASB in achieving convergence between IFRS 13 and the US GAAP equivalent. In addition, we note several areas where further guidance would be beneficial such as the application of the concept of highest and best use of non-financial assets; measurement of fair value of growing produce on bearer plants; and the unit of account in other IFRSs versus the application of IFRS 13. Further, we encourage the IFRS Foundation to work with other interested parties to ensure the consistent application of IFRS 13.
Download the full comment letter below.
