30-7-2009 | EFRAG's Draft Comment Letter on the IASB's Exposure Draft 'Fair Value Measurements'

EFRAG has issued its draft comment letter on the IASB's Exposure Draft 'Fair Value Measurements'. The letter can be downloaded here. Comments are invited by 21 September 2009.
	EFRAG is supportive of the fair value measurement framework described in the ED in so far as it is applied to financial assets and financial liabilities.  However, EFRAG does not support the application of fair value as defined and described in the ED to non-financial items. EFRAG also thinks it inappropriate to recognise changes in own credit risk by changing the amount at which the liability involved is recognised and recognising gains or losses, and believes the fair value definition needs to be amended accordingly.
Document : EFRAGs draft comment letter on IASB ED Fair Value Measurement.pdf
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