Global Standards for the world economy

Monday 25 January 2021

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Work plan for IFRSs

 Fair Value Measurement



Project milestones



This project was completed on 12 May 2011 when the IASB issued IFRS 13 Fair Value Measurement.

IFRS 13, which is effective from 1 January 2013, defines fair value, sets out in a single IFRS a framework for measuring fair value and requires disclosures about fair value measurements. IFRS 13 does not determine when an asset, a liability or an entity's own equity instrument is measured at fair value. Rather, the measurement and disclosure requirements of IFRS 13 apply when another IFRS requires or permits the item to be measured at fair value (with limited exceptions).

The fair value measurement project was part of the Memorandum of Understanding between the IASB and the US national standard-setter, the Financial Accounting Standards Board (FASB). Our joint work resulted in IFRSs and US generally accepted accounting principles (GAAP) having the same definition and meaning of fair value and the same disclosure requirements about fair value measurements.

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Project news

May 2011 Recordings of a webcast introducing IFRS 13 Fair Value Measurement available, morning session and afternoon session.

12 May 2011 IFRS 13 Fair Value Measurement issued -  click here for more information.

15 March 2011 The IASB and FASB have completed their discussions about fair value measurement. The IASB expects to issue an IFRS on fair value measurement in April 2011.

Click here to see all previous project news on this project.


Latest IASB meeting update

28 March 2013

The IASB discussed the unit of account for investments in subsidiaries, joint ventures and associates.

Read the full meeting update and all previous updates and observer notes for this project.

Click here to listen to the IASB meeting audio playback.


Next discussion by the IASB

Discussions of this project have finished. This project is now complete.


Page last updated: 21 November 20

Related information

A webcast introducing IFRS 13 Fair Value Measurement [May 2011]  -  morning session and afternoon session

Click here to listen to a podcast introducing IFRS 13 Fair Value Measurement

Click here for the table of concordance

Project contact

Kumar Dasgupta
Senior Technical Consultant

Mariela Isern
Senior Technical Manager