EFRAG's draft endorsement advice and draft effects study report on IFRS 13 Fair Value Measurement

18 November 2011

EFRAG published an Invitation to Comment that is consulting both on its assessment of IFRS 13 against the technical criteria for the endorsement in the EU, and on its initial assessment of the costs and benefits that would arise from its implementation and application in the EU.

IFRS 13 'Fair Value Measurement' sets out a single source of comprehensive guidance on how to measure the fair value of both financial and non-financial assets and liabilities. IFRS 13 applies when another IFRS requires or permits fair value measurement or disclosures about fair value measurements, thus it does not set out requirements on “when to” apply fair value measurement. While IFRS 13 includes descriptions of certain valuation approaches and techniques, it is not a valuation standard and does not prescribe how valuations should be performed.

EFRAG has issued an Invitation to Comment relating to the endorsement for use in the EU of IFRS 13 'Fair Value Measurement'. Comments are requested by 18 December 2011.

Full paper

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