Fair value and measurement: where the conflicts lie
Allister Wilson
(Allister Wilson is chief technical director at Ernst & Young and is a leading thinker on all aspects of banking and financial reporting. This article is extracted from the response which Wilson and his firm prepared in comment upon the Joint Working Group’s proposals for new rules on the disclosure of the effects of financial instruments.)
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Abstract
When it comes to the way in which banks report the effects of financial instruments, the position of the global accounting firms is crucial. This article explores the difficulties ahead. It suggests that fair value has a place in the system but that using them to report earnings would create huge difficulties, simply because existing systems of performance measurement would not be up to the task.
Keywords
Citation
Wilson, A. (2001), "Fair value and measurement: where the conflicts lie", Balance Sheet, Vol. 9 No. 4, pp. 26-33. https://doi.org/10.1108/09657960110696735
Publisher
:MCB UP Ltd
Copyright © 2001, Company