European Investors Consortium Says No More Carve Outs on Fair Value Accounting

Reacting to relief in fair value accounting granted by the IASB and FASB, a consortium of European investor groups said that any further changes in the fair value standard could severely undermine the confidence that users have in the company financial statements. While the Corporate Users Reporting Forum recognizes the need to align the FASB and IASB positions on fair value accounting, there must be no additional amendments to the accounting standards relating to the measurement of financial instruments. The European Commission recently adopted the changes to fair value accounting. The forum said that it would actively oppose any further Commission carve outs from the fair value standard.