Post-implementation Review of IFRS 13

As part of the Post-implementation Review of IFRS 13 – Fair Value Measurement, the IASB has published two documents relating to two different phases of the project.

Keywords: Mazars, Thailand, IFRS 13, Fair Value Measurement, Post-implementation, IASB

6 July 2017

  • a call for applications to undertake a review of the academic literature on the effect of implementing IFRS 13 (published on 23 May 2017); and
  • a Request for Information to gather stakeholders’ experiences of implementing the standard (published on 25 May 2017).

As a reminder, Post-implementation Reviews of IFRS standards aim to assess:

  • whether the information produced in accordance with the standard is useful to users of financial statements;
  • whether any aspects of the standard present implementation difficulties and might result in inconsistent application of the requirements;
  • whether any unexpected costs were incurred in preparing, auditing or enforcing the standard, or in using the information produced in accordance with the standard.

According to the Request for Information, the IFRS 13 PiR focuses primarily on the following areas:

  • fair value measurement disclosures presented in accordance with the standard;
  • additional information on measuring quoted investments in subsidiaries, joint ventures and associates at fair value;
  • application of the concept of highest and best use of an asset when measuring the fair value of a non-financial asset;
  • application of judgement.

The IASB is also consulting on whether there is a need for further guidance on measuring the fair value of biological assets and unquoted equity instruments.

The call for applications to undertake the literature review is open until 20 June 2017. 

The deadline for the Request for Information is 22 September 2017.

Both documents can be found here

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