IFRS and fair valuation

IFRS 1021 views 2 replies

sriniwas

Finance professional

136 Points Joined July 2009

Dear all,

Fair valuation is one of the major changes introduced by IFRS based accounting system. Request members to share their valuable inputs on the following for the benefit of all members:

Who can/has to do fair valuation.
Frequency
Other requirements
Available opportunities

regards and thanks

Sriniwas VN

Replies (2)

Guest

Hi,

1. It depends which items needs market valuation, for eg in case of gratuity actuary is the best person, for investment properties there are various independent valuers available, in case of investment held to maturity market value of the investment based on the stock market rated and financial statements for listed and unlisted securities respectively. In other words, it look more easy to write however too difficult to practice in a place like India where things are too much extend unorganised

2. Frequency is usually wenever one prepares financial statement.

3.A very vague statement "other requirements"

4. Too difficult for valuers to fulfill the requirements of IFRS with regards to fair value. Good opportunity for exisitng valuers but not for a newbie.