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5 Jun. 2017

AASB ITC 36 – Feedback sought on IFRS 13 Post-implementation Review

How useful are the disclosures of Level 3 fair value measurements? What issues do you encounter when applying the ‘highest and best use’ concept in measuring the fair value of non-financial assets? Is it challenging to determine whether a market is ‘active’ or whether unobservable inputs are ‘significant’? The AASB is seeking feedback on these issues, amongst others, in conjunction with the release of the IASB Request for Information Post-implementation Review—IFRS 13 Fair Value Measurement.