IASB March 2008

The Board discussed whether to establish a working group for the fair value measurement project. A working group for a major project typically addresses conceptual issues fundamental to developing the principles for the project. However, the fair value measurement project seeks mainly to compile existing literature into a single source of measurement guidance.

As a result, the project team needs input on practical application issues about fair value measurement and valuation generally. For these reasons, the Board decided not to establish a working group. Instead, the staff will form an informal technical advisory group that will provide practical input on valuation issues. This input will inform the staff as it develops an IFRS for fair value measurement guidance.