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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

Author

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  • Deaconu, Adela
  • Nistor, Cristina Silvia
  • Filip, Crina

Abstract

This research studies, through a content analysis of the comment letters to the IVSC project on fair value determination of intangible assets, 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 have come to the conclusion that, among respondents, accountants are more reserved than valuators in what regards the IVSC regulating of the fair value measurement. The Anglo-Saxon respondents are more open to accept the IVSC DP as compared to respondents from other countries, hence the IVSC legitimacy to develop fair value measurement standards. Generally, we consider that accounting bodies, rather than valuation bodies, should have legitimacy to develop fair value measurement standards.

Suggested Citation

  • Deaconu, Adela & Nistor, Cristina Silvia & Filip, Crina, 2009. "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," MPRA Paper 16850, University Library of Munich, Germany, revised 2009.
    • Handle: RePEc:pra:mprapa:16850
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    References listed on IDEAS

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    1. P. Windels & J. Christiaens, 2007. "The Adoption Of Accrual Accounting In Flemish Public Centres For Social Welfare: Examining The Importance Of Agents Of Change," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 07/451, Ghent University, Faculty of Economics and Business Administration.
    2. Thomas J. Miceli, 2005. "Property," Chapters, in: Jürgen G. Backhaus (ed.), The Elgar Companion to Law and Economics, Second Edition, chapter 15, Edward Elgar Publishing.
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    More about this item

    Keywords

    fair value; professional standards; valuation techniques; guidance; project acceptation; value hierarchy;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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