International briefing - Financial Reporting - IVSC - Valuations for financial reporting

The International Valuation Standards Committee has issued 'preliminary final drafts' of two revised standards: Valuation for Financial Reporting and The Cost Approach for Financial Reporting. The standards have been revised to reflect the revised

IAS 16, Property, Plant and Equipment, IAS 17, Leases, and IAS 40, Investment Property.

Although the IASB's revisions have removed some of the previous valuation anomalies, the IVSC believes that there remains a lack of clarity as to the underlying assumptions that should be made when making fair value assessments of fixed assets for different purposes.

Copies of IVSC documents can be downloaded from

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