IASB December 2007

The Board began to discuss the market participant view in the FASB’s SFAS 157 Fair Value Measurements and compared it with the concept of ‘knowledgeable, willing parties in an arm’s length transaction’ in IFRSs. The Board decided that it was premature to reach a conclusion on the market participant view before considering cross-cutting issues. Because of the interaction between the topics to be deliberated, the Board will next discuss the fair value measurement project in March or April 2008 when it will consider a number of interrelated topics.