The debates were long and difficult, largely for the following reasons:
- The first relates to the IASB’s desire to publish a standard setting out “how” to determine the fair value of an asset or a liability without ever addressing the question of “when” to do so. Establishing what a fair value should be without being able to ask about the circumstances in which it should be used disconcerted many commentators.
- The second reason, more context-specific, relates to the financial crisis which accompanied this project. Determining a “fair value” is more straightforward when the economic environment is stable than during a liquidity crisis.
- The main principles of IFRS 13 "Fair value measurement"
- Expert perspectives - Actuarial team
- Expert perspectives - Banking sector
- Expert perspectives - Real estate sector
- Expert perspectives - Transaction services team
- Expert perspectives - Insurance sector
- Remember the key points!