[News] Give your feedback on the the post-implementation review (PIR) of IFRS 13 Fair Value Measurement

Posted by caroline.vangeel on 2 months 2 weeks ago

The IASB has launched the post-implementation review (PIR) of IFRS 13 Fair Value Measurement. A PIR is an important exercise because the objective of a PIR is to assess whether an accounting standard – in this case IFRS 13 - works as intended and achieves its objectives. A PIR also helps detect areas of a standard that may present challenges that could result in inconsistent application of the requirements.


IFRS 13 became effective from 1 January 2013, defines fair value, sets out how fair value should be measured and which disclosures are required about fair value measurements. In order to prepare its response to the IASB's Request for Information, EFRAG is calling for evidence from European stakeholders, particularly users, on their experience with IFRS 13.


The outreach conducted by EFRAG includes 2 questionnaires: one to users and one to other constituents. Both questionnaires are available on EFRAG’s website and the feedback received will assist EFRAG in preparing its response to the IASB’s Request for Information: http://www.efrag.org/News/Project-280/EFRAG-Call-for-Evidence--Experiences-with-IFRS-13-Fair-Value-


This is a request, in particular to users of financial statements, to fill in the questionnaire(s). It will help EFRAG in assessing whether IFRS 13 works as was intended.