PwC comments on proposals for measuring quoted investments at fair value
PwC agrees that the unit of account should be the investment as a whole.
Overview
The PwC global network of firms submitted comments on the IASB's exposure draft on measuring certain quoted investments at fair value. Overall, we agree that the unit of account for an investment in a subsidiary, joint venture and associate is the investment as a whole rather than the individual financial instruments included within the investment. However, we do not agree that the fair value measurement of quoted investments in subsidiaries, joint ventures and associates should be the product of the quoted price multiplied by the quantity of financial instruments held without adjustments. Our letter includes additional observations for the IASB's consideration.
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