Essay: Standard Setting by IASB
Sample Essay
We can see that standard setting is very effective by IASB and other standard setting bodies in times of economic crisis. It has helped to restore some level of confidence among the investors, for example through the dealing with the fair value measurement problem. It had been a long existing one and the IASB has now approached the issue by providing a more clear definition of fair value and providing guidelines for its dealing in illiquid markets.