The International Accounting Standards Board (IASB) published for public comment an exposure draft of draft guidance regarding fair value measurement, according to a release from the IASB.
If adopted, these proposals would replace fair value measurement guidance in individual International Financial Reporting Standards (IFRSs) with a single, unified definition of fair value. They will also further the authoritative guidance on the application of fair value measurement in inactive markets. The proposals show how fair value should be measured when it is already required by existing standards. They do not extend its use in any way.