The IASB should wait for a comprehensive and joint solution on financial instruments rather than aiming at issuing piecemeal guidance on various areas of fair value accounting, CESR notes.
CESR agrees with EFRAG that the initiatives taken by the FASB do not appear to be consistent with previous joint announcements which have emphasised the importance of working co-operatively and in an internationally co-ordinated manner.
CESR is of the view that it would be better or ideal for the IASB to wait for a comprehensive and joint solution on financial instruments than aiming at issuing piecemeal guidance on various areas of fair value accounting for financial instruments.
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© CESR - Committee of European Securities Regulators
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