IASB request for information on IFRS 13

This Request for Information (RFI) is relevant to Tier 1 and Tier 2 for-profit entities as well as auditors, regulators, investors and other parties interested in IFRS 13 Fair Value Measurement.

The International Accounting Standards Board (IASB) has published a Request for Information (RFI) as part of its Post-implementation Review (PIR) of IFRS 13 Fair Value Measurement.

The objective of a PIR is to assess whether a standard works as intended and achieves its objectives.

The PIR of IFRS 13 consists of two phases. The first phase led to the identification of topics for further analysis. In this second phase now the IASB is seeking feedback on the usefulness of the information required by IFRS 13 and the challenges and costs associated with implementing the standard.

In particular, the RFI focuses on:

  • disclosures about fair value measurements;
  • further information about measuring quoted investments in subsidiaries, joint ventures and associates at fair value;
  • application of the concept of the ‘highest and best use’ when measuring the fair value of non-financial assets; and
  • application of judgement.

In addition, this RFI explores whether there is a need for further guidance on measuring the fair value of biological assets and unquoted equity instruments.

We encourage you to read the RFI and to provide your comments on IFRS 13.

More Information

Commenting on the RFI

You can send your comments in an email or letter and these can be formal or informal.

Comments are due to the NZASB by 23 August 2017 and to the IASB by 22 September 2017.