Legitimacy to Develop Fair Value Measurement Standards: The Case of the IVSC Discussion Paper – Determination of Fair Value of Intangible Assets for IFRS Reporting Purposes

Review of Business Research, Vol. 9, No. 3, 2009

12 Pages Posted: 19 Aug 2009

See all articles by Adela Deaconu

Adela Deaconu

Babes-Bolyal University - Faculty of Economics and Business Administration

Nistor Cristina Silvia

Babes-Bolyai University - Faculty of Economics and Business Administration

Filip Crina

Babes-Bolyai University - Faculty of Economics and Business Administration

Date Written: August 4, 2009

Abstract

This research studies, through a content analysis of the comment letters to the IVSC’s project on intangible assets fair value determination, the legitimacy of this professional body, or of the accounting associations, to develop measurement standards specific to this accounting concept. At present, with the exception of FAS 157, no professional standard offers clear technical solutions for fair value determination for financial reporting purposes. We came to the conclusion that, out of the number of respondents, accountants were more reserved than valuators in what regards the IVSC regulating fair value measurement. The Anglo-Saxon respondents are more opened to accept the IVSC DP compared to respondents from other countries, hence the IVSC’s legitimacy to develop fair value measurement standards. Overall, we consider that accounting bodies, rather than valuation bodies, should have legitimacy to develop fair value measurement standards.

Keywords: fair value, professional standards, valuation techniques, guidance, project acceptation, value hierarchy

JEL Classification: M48, M41, G12, G34, M16, M21

Suggested Citation

Deaconu, Adela and Cristina Silvia, Nistor and Crina, Filip, Legitimacy to Develop Fair Value Measurement Standards: The Case of the IVSC Discussion Paper – Determination of Fair Value of Intangible Assets for IFRS Reporting Purposes (August 4, 2009). Review of Business Research, Vol. 9, No. 3, 2009, Available at SSRN: https://ssrn.com/abstract=1443986

Adela Deaconu (Contact Author)

Babes-Bolyal University - Faculty of Economics and Business Administration ( email )

Str Teodor Mihali, Nr.58-60
Cluj-Napoca, RO- 400591
Romania

Nistor Cristina Silvia

Babes-Bolyai University - Faculty of Economics and Business Administration ( email )

Str Teodor Mihali, Nr.58-60
Cluj-Napoca, RO- 400591
Romania

Filip Crina

Babes-Bolyai University - Faculty of Economics and Business Administration ( email )

Str Teodor Mihali, Nr.58-60
Cluj, RO- 400591
Romania

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