IASB Issues Staff Draft on Fair Value Measurements

    On August 19, 2010, the IASB posted a staff draft on fair value measurement. The draft reflected the decisions that the IASB and FASB had made through August 19th as part of their project to converge guidance in this area. Although the IASB did not release the staff draft for public comment, entities may wish to comment on the FASB’s exposure draft since the two documents are very similar. Comments related to the FASB’s exposure draft were due by September 7, 2010. The boards expect to issue a common fair value measurement standard in early 2011.