IASB – Fair Value Measurement

The International Accounting Standards Board has issued an exposure draft ED/2009/5 Fair Value Measurement, which defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. The exposure draft deals with how to determine fair value; other IFRS, for example IAS 39, Financial Instruments, IAS 40, Investment Property, and IFRS 3, Business Combinations, specify when fair value measurement is required.