IFRS 13 Driving Level 3 Coding Work
With the International Financial Reporting Standard (IFRS) 13 for fair value accounting in place since January 1, the next concern about “Level 3” unobservable quotes is the coding of this data, states Joel Brown, senior manager of pricing and corporate actions at Invesco.
IFRS 13 has clarified how to measure Level 3 quotes, Brown adds, but investment firms like his own are obligated to show what they’re doing to make sure these prices are accurate and appropriate, especially if they come from
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