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IFRS 13 Fair value measurement

IFRS 13 Fair Value Measurement defines fair value, sets out in a single IFRS a framework for measuring fair value, and requires disclosures about fair value measurements. The standard was published in May 2011 and is effective from 1 January 2013.

Full text standard

Unaccompanied version of IFRS 13
The International Accounting Standards Board (IASB) provides free access to the consolidated unaccompanied international accounting standards for the current year through its website. Free registration is required.

This unaccompanied version does not include additional content that accompanies the full standard, such as illustrative examples, implementation guidance and bases for conclusions.

IFRS 13 summary and timeline

Looking for the synopsis? Our IFRS 13 summary and timeline are now on a separate page, featuring information on current proposals and a timeline of IASB updates.

Which version of the standard?

Financial Reporting Faculty members have unlimited online access to the consolidated edition of IFRS and amendments through the IASB's eIFRS service. Please log into eIFRS to access electronic versions of the standards. Or find out more about how to join the faculty.

The ICAEW Library also offers members and students access to the print versions of the latest IFRS Blue and Red Books. Contact us by telephone on +44 (0)20 7920 8620, by web chat or by email at library@icaew.com

UK reduced disclosures

UK qualifying parents and subsidiaries can take advantage of FRS 101 Reduced Disclosure Framework. Our FRS 101 page gives more information on which entities qualify and the criteria to be met.

Amendments to the standard

There are no amendments to IFRS 13 in order to comply with the Companies Act or related Regulations.

Disclosure exemptions

FRS 101 paragraph 8(e) states that a qualifying entity is exempt from all of the disclosure requirements of IFRS 13 with the following limitations.

  • Equivalent disclosures must be made in the consolidated financial statements of the group in which the entity is consolidated.
  • A financial institution may not use the exemption from IFRS 13 in relation to financial instruments, but may use it in relation to other assets and liabilities.
  • Non-financial institutions must make additional disclosures if certain financial instruments are measured at fair value.

IFRS 13 paragraphs for which exemption is available: 91-99.

ICAEW guidance and commentary


IFRS 13 Fair Value Measurement 🔒
Financial Reporting Faculty, 30 January 2014
The IASB's most recent standard defines fair value, sets out a framework for measuring fair value, and requires disclosure about fair value. This exclusive factsheet for Financial Reporting Faculty members looks at the implications for the financial statements and clearly identifies those areas most likely to be affected.

Annual factsheets

These exclusive factsheets, produced annually by the Financial Reporting Faculty for its members, highlight all new and modified requirements for preparers of IFRS accounts. Each annual edition focuses primarily on new requirements with mandatory application for preparers with periods beginning on or after 1 January of that year.

2014 IFRS Accounts 🔒
Financial Reporting Faculty, 5 April 2016

Articles and features

Fair value: Six impossible things 🔒
Brian Singleton-Green, By All Accounts, January 2012
From the Financial Reporting Faculty's magazine, Brian Singleton-Green, Faculty Manager, draws attention to some of IFRS 13's more curious features.


IFRS Update 🔒
Financial Reporting Faculty, 18 July 2013
This webinar for Financial Reporting Faculty members focused on new and revised standards that are effective for 2013. There have been several significant changes, including major new standards on consolidated financial statements, joint arrangements, disclosure of interests in other entities and fair value measurement and a revised version of IAS 19 Employee Benefits.


Access to eBooks is only available to ICAEW members and ACA students – please log in to view these titles.

IFRS 2018: Interpretation and application of IFRS standards 🔒
PKF (2018)
This Wiley guide has been fully updated to help practitioners apply and comply with the latest international financial reporting standards. It provides detailed guidance along with illustrative examples. The chapter on fair value covers:

  • Fair value measurement principles and methodologies
  • Fair value disclosure

If you have any difficulties using these eBooks, please see our Help and support advice or contact library@icaew.com.

Example accounts

IFRS model accounts and disclosure checklists
Online disclosure checklists, general IFRS illustrative statements and compliance questionnaires collected by the ICAEW Library.

Company Reporting (Croner-i)

The ICAEW Library can provide examples of real-life company reports to help keep you up-to-date with reporting practices and benchmark your financial reporting compliance. Company Reporting analyses current IFRS disclosures from public companies, organised by industry sector. It also provides detailed monthly Common Practice reports on specific issues.

Contact us on +44 (0)20 7920 8620, by web chat, or at library@icaew.com to get any documents from Company Reporting.

Further reading

Manuals and handbooks

The ICAEW Library stocks the latest IFRS handbooks and manuals. You can browse all our books on IFRS 13 and fair value or request any of the following popular titles by contacting us on +44 (0)20 7920 8620, by web chat, or at library@icaew.com

International GAAP 2019
EY, Wiley, 2019
Comprehensive reference guide to interpreting and implementing IFRS, featuring detailed analysis of technical accounting issues accompanied by worked examples and illustrations taken from the actual financial statements of companies that report under IFRS.
Request this book

Manual of accounting: IFRS for the UK 2019
PwC, Tolley, 2018
Practical guidance on the standards and the accounting requirements of UK law applicable to UK users of IFRS. This manual was published in November 2018 and includes key updates from amendments, annual improvements and the revised conceptual framework issued in March 2018.
Request this book

Insights into IFRS 2018–19
KPMG, Thomson Reuters, 2018
Manual providing practical guidance with an emphasis on the real-life application of IFRS, with examples based on actual questions that have arisen in practice around the world. This book deals with standards issued by the IASB as at 1 August 2018.
Request this book

iGAAP 2018: A guide to IFRS reporting (Volume A)
Deloitte, Croner-i, 2018
Practical and comprehensive guidance for entities currently reporting under IFRS and those considering whether to move to IFRS in the near future. This manual deals with standards issued by the IASB as at 1 September 2017.
Request this book

GAAP 2018: UK reporting - IFRSs (Volume C)
Deloitte, Croner-i, 2018
Comprehensive manual explaining how to apply IFRS, focusing on practical implementation issues with commentary and analysis of issues specific to UK companies. This volume deals with standards issued by the IASB as at 1 September 2017.
Request this book

Wiley IFRS 2018: Interpretation and application of IFRS standards
PKF, Wiley, 2018
Reference manual providing full coverage of the latest standards and thorough guidance for implementation, featuring practical tools and insight from a practitioner's perspective.
Request this book


The ICAEW Library subscribes to over 160 current journals and magazines, as well as offering access to 1,800 key UK and international business, management and trade titles online. You can browse articles on IFRS 13 and fair value or request any of the selected articles below by contacting us on +44 (0)20 7920 8620, by web chat, or at library@icaew.com

Private equity fair value measurement: A critical perspective on IFRS 13
Vera Palea and Renato Maino, Australian Accounting Review, Vol. 23 No. 66, September 2013
This paper raises issues on the fair value definition as an exit price and questions the reliability of valuation techniques, which are categorised in the 'Level 2' fair value hierarchy. The authors question whether fair value as defined by IFRS 13 is an appropriate measure for private equity and can contribute to enhancing transparency and comparability in financial statements, which is one of the purposes of the IASB and the EU Regulation 1606/2002.

Find out more about how you can borrow books from the ICAEW Library or get articles and documents sent to you by email, post or fax.

Ask ICAEW Technical Advisory Service

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