IAASA, Ireland’s accounting enforcer, has today published a Paper “IFRS 13 Fair Value Measurement – information requests”.
IFRS 13 defines fair value, sets out a framework for measuring fair value, and requires disclosures about fair value measurements in financial statements.
This Paper lists the fair value information requests that IAASA has made to entities during previous financial statement examinations. Consideration by management, audit committees and auditors as to how they might respond to such questioning may assist entities in providing high quality information to users of their financial reports.
The Paper is available here.