It was issued by the IASB on 12 May 2011. IFRS 13 will be effective for annual periods beginning on or after 1 January 2013 and contains specific transition requirements.
- Fair value defined as an exit price.
- Comprehensive framework for measuring fair value when such measurement is required under other IFRSs.
- Additional disclosures required about fair value measurements, including non-financial assets and liabilities.