Fair value reform pushed forward

The International Accounting Standards Board (IASB) has agreed to speed up the revision of fair value and mark-to-market rules.

News reports indicate that the standards setter took the decision at a board meeting held yesterday.

"It's true we are trying to be responsive to them to get something urgent, but what we are focussing on is the G20 request to reduce complexity by year-end," IASB board member John Smith told Reuters.

He also revealed that a July draft will analyse the classification and measurement of assets, while a second document will follow later in the year focusin

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