EFRAG Call for Evidence – Experiences with IFRS 13 fair value

03 July 2017

EFRAG is requesting evidence from European Constituents on their experiences with IFRS 13 Fair Value Measurement.

The IASB has launched a post-implementation review (PIR) of IFRS 13 Fair Value Measurement.

The purpose of a PIR is to evaluate if the Standard is working as the IASB intended. In particular, the IASB aims to assess whether:

• the information required to be provided by IFRS 13 is useful to users of financial statements;
• areas of IFRS 13 present implementation challenges and might result in inconsistent application of the requirements; or
• unexpected costs have arisen when preparing, auditing or enforcing the requirements of IFRS 13 or when using the information that the Standard requires entities to provide. 

In order to prepare a response to the IASB's Request for Information, EFRAG is calling for evidence from European stakeholders including preparers, users, auditors and academics. The feedback received will assist EFRAG to prepare a response to the IASB's Request for Information.

The objective of the outreach is to obtain evidence about any aspect of the application of IFRS 13. Specifically, EFRAG would like to understand whether there are  areas of IFRS 13 that represent implementation challenges and whether unexpected cost have arisen when meeting the requirements of the Standard.

EFRAG would prefer to receive responses by 8 September 2017.

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