The Fair Value Measurement project team has begun the standard-by-standard review of existing fair value measurements in IFRSs to assess whether each standard’s use of a fair value measurement basis was intended to be an exit price.
During the third quarter of 2008 the Board plans to hold round-table discussions with constituents. Responses to the discussion paper and the feedback received during the round-table discussions will be valuable to the IASB in developing an exposure draft of an IFRS on fair value measurement guidance, which it aims to publish in mid-2009.
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