The International Accounting Standards Board has formed an advisory panel to deal with the controversial topic of determining the value of financial instruments in inactive markets.

Banks and financial services companies have been struggling with writedowns of assets, such as securitized mortgages, trying to determine the fair value of these securities when few buyers are willing to purchase them. The panel will assist the IASB with reviewing best practices in the area of valuation techniques, formulating additional guidance on valuation methods for financial instruments and related disclosures when markets are no longer active.

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