Here are several items of interest to valuation experts regarding the International Accounting Standards Board.

• The IASB meeting in London on July 23-25 will include joint sessions with the FASB on financial instruments (classification and measurement and impairment) and revenue recognition. IASB-only sessions will also include these topics, plus sessions on rate regulation and post-implementation review of IFRS 3 and IFRS for SMEs.

• The IASB has submitted a response to the European Commission (EC) concerning the green paper, Long-Term Financing of the European Economy. The EC posed a question regarding a possible relationship between the use of fair value accounting principles and short-termism in investor behavior. In its response, the IASB says it does not believe that fair value accounting principles have of themselves led to short-termism in investment behavior.

• Deloitte has issued a comment letter on the IASB’s Exposure Draft, ED/2013/3, Financial Instruments: Expected Credit Losses. Deloitte has a “number of concerns about the proposed impairment model and suggests an alternate approach using an absolute assessment of credit quality which would avoid accounting anomalies when similar economics of financial assets are measured differently.”