IFRS® Standards

Post-implementation Review of IFRS 13 Fair Value Measurement


The Accounting Standards Board (AcSB) is participating in the International Accounting Standards Board’s (IASB) project to review IFRS 13 Fair Value Measurement to provide input on the standard’s effects and whether it is working as intended.

Staff Contact(s)

Andrew White, CPA, CA

Senior Principal, Accounting Standards Board

Project Status

  • Information gathering

    Completed prior to January 2016

  • Approving project

    Companies were required to begin applying IFRS 13 in annual reporting periods

    The IASB carries out a Post implementation Review PIR of each new IFRS Standard or major amendment

  • Consulting stakeholders

    IASB issued request for feedback in May 2017

    Public outreach on the request from May 2017 September 2017

    The AcSB consulted with its IFRS Discussion Grp User Adv Council and Academic Adv Council

  • Deliberating feedback

    The IASB plans to publish a feedback statement in December 2018

  • Final pronouncement

    The IASB published the Project Report and Feedback Statement in December 2018

Just Released

Read the IASB’s Project Report and Feedback Statement


September 22, 2017


AcSB Response – Post-implementation Review: IFRS 13 Fair Value Measurement

On September 22, 2017, the AcSB submitted a comment letter responding to the IASB’s Request for Information issued in May 2017. The letter welcomes the IASB’s third post-implementation review. It expresses the view that, overall, the requirements of IFRS 13 have resulted in relevant and comparable fair value measurements, as well as enhanced disclosures. However, the letter points out that some aspects of IFRS 13 are challenging to apply – in particular, its disclosure requirements for Level 3 fair value measurements. The letter recommends that the IASB revise the disclosure requirements to have entities exercise judgment to determine the disclosures about Level 3 fair value measurements users of their financial statements need to assess the risks and uncertainties in these measurements, based on the relevance of the item. Read the AcSB letter posted by the IASB.

May 25, 2017


IASB Request for Information ─ Post-implementation review of IFRS 13 Fair Value Measurement

May 25, 2017.  The IASB has issued a Request for Information to seek feedback on stakeholders’ experiences on the use of IFRS 13 Fair Value Measurement. Canadian stakeholders are encouraged to submit their comments to the IASB by September 22, 2017.

Meeting & event summaries

July 13, 2017

AcSB Decision Summary – July 13, 2017

The Board discussed key points to include in its response letter to the IASB’s Request for Information on its “Post-implementation Review of IFRS 13 Fair Value Measurement.” As part of the discussion, the Board considered feedback obtained through the Board’s outreach on this topic.

The Board encourages stakeholders to share their views on the Request for Information by submitting comment letters to the IASB by September 22, 2017 with a copy to the AcSB.


This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal ballot process.