The relevance of fair value after the adoption of IFRS 13: fair value measurement and the role of audit committee

摘要

This study aims to analyse the relevance of fair value after IFRS 13 adoption, which focuses on the financial assets' fair value for all three (3) levels of the fair value hierarchy. This study also examines the role of the audit committee's effectiveness in strengthening the relevance of the financial assets' fair value. The samples are listed companies in ASEAN countries, namely Indonesia, Malaysia, Singapore, and Philippine. The observation period is two years, one year before and after the adoption in each country. The results show that, the level 3 fair value is more relevant after the implementation of IFRS 13. Moreover, the effectiveness of audit committee enhances the relevance of the level 3 fair value.