The International Accounting Standards Board has said it will be looking for opinions from interested parties about the proposals on fair value measurement and impairments of financial instruments made by the US Financial Accounting Standards Board. An Expert Advisory Panel, set up by the IASB, is to look at the proposal for guidance on fair value measurement in inactive markets. The IASB will only publish the formal proposals for public comment once they have considered the views of interested parties and the panel The US FASB has a set a 15 day comment period ending on 1 April 2009 which is intended to give additional application guidance. IASB chairman Sir David Tweedie said: 'Whilst these are US proposals specifically targeted at US capital markets, we have been asked by the G-20 and others to deal with financial reporting issues on a globally consistent basis. For this reason we are seeking views about the FASB proposals from our Fair Value Measurement Expert Advisory Panel as well as other interested parties.' In October 2008, the two boards said they would work together to ensure that the reporting of issues arising from the global financial crisis would be consistent.