International Fair Value Accounting Draft Cross-Referenced to U.S. Counterpart

The International Accounting Standards Board (IASB) on Wednesday published new resources to help stakeholders understand how its exposure draft on fair value measurement compares to the U.S. accounting standard upon which it is based.


The new resources include:


  • A marked-up version of the text that shows the wording differences between the exposure draft and FASB Statement no. 157, Fair Value Measurements.
  • A reference table shows which paragraphs in Statement no. 157 are the source for each paragraph in the IASB exposure draft.


The IASB staff also published a series of frequently asked questions and answers based on preliminary feedback received on the exposure draft since its publication in May.


Comments on the exposure draft are due Sept. 28, after which the IASB says it plans to hold round-table discussions with interested parties during the fourth quarter of 2009, though the dates and locations are not yet available.


The IASB plans to publish a final IFRS on fair value measurement in 2010.



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