Determining Fair Value of Financial Instruments under IFRS

The Global Public Policy Committee (GPPC) has published a paper called "Determining Fair Value of Financial Instruments under IFRS in Current Market Conditions." The purpose of the paper is to enhance awareness of the requirements of International Financial Reporting Standards (IFRS) in relation to the determination of fair value of financial assets, financial liabilities and related disclosures. The GPPC comprises representatives of the six largest international accounting networks - BDO International, Deloitte, Ernst & Young, Grant Thornton International, KPMG and PricewaterhouseCoopers.