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What will the Board do if the proposed definition of fair value is not appropriate in a particular situation?

April 26, 2017appropriate definition fair particular proposed value

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What will the Board do if the proposed definition of fair value is not appropriate in a particular situation?

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In this project, the Board will assess whether an asset or liability measured at fair value as currently defined in IFRSs should be measured at fair value using the proposed definition. If the Board determines that the proposed definition is not appropriate for a particular situation, it will exclude that situation from the scope of an IFRS on fair value measurement guidance.