Implementation of IFRS 13 fair value measurement : issues and challenges faced by the Islamic financial institutions in Malaysia
Fair value (FV) is claimed to be superior to other forms of measurement mainly because the former is easily understood by investors and stakeholders. However, the challenges faced in deploying International Financial Reporting Standards (IFRS) 13 FV Measurement could result in inconsistent applicati...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Penerbit Universiti Kebangsaan Malaysia
2021
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| Online Access: | http://journalarticle.ukm.my/18446/ http://journalarticle.ukm.my/18446/1/49756-174571-1-PB.pdf |
| _version_ | 1848814575044001792 |
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| author | Nathasa Mazna Ramli, Abdul Rahim Abdul Rahman, Ainulashikin Marzuki, Marziana Madah Marzuki, Wan Amalina Wan Abdullah@Wan Muda, |
| author_facet | Nathasa Mazna Ramli, Abdul Rahim Abdul Rahman, Ainulashikin Marzuki, Marziana Madah Marzuki, Wan Amalina Wan Abdullah@Wan Muda, |
| author_sort | Nathasa Mazna Ramli, |
| building | UKM Institutional Repository |
| collection | Online Access |
| description | Fair value (FV) is claimed to be superior to other forms of measurement mainly because the former is easily understood by investors and stakeholders. However, the challenges faced in deploying International Financial Reporting Standards (IFRS) 13 FV Measurement could result in inconsistent application and unexpected costs related to the requirements of the standard. As such, this study explored the issues and challenges of implementing IFRS 13 FV Measurement faced by financial instruments, particularly within the context of Islamic Financial Institutions (IFIs). Upon adopting the qualitative approach, in-depth interview sessions were held with several academicians, accountants, auditors, and professional body representatives. The study outcomes revealed that issues in implementation of FV measurement were related to the relevance of measurement and hierarchy of level of FV measurement. Notably, issues pertaining to FV measurement were highlighted from the Shariah perspective. Valuable insights on the issues revolving around IFRS 13 implementation, particularly on financial instruments in Malaysia, are presented in this study. |
| first_indexed | 2025-11-15T00:36:15Z |
| format | Article |
| id | oai:generic.eprints.org:18446 |
| institution | Universiti Kebangasaan Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T00:36:15Z |
| publishDate | 2021 |
| publisher | Penerbit Universiti Kebangsaan Malaysia |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | oai:generic.eprints.org:184462022-04-18T02:31:49Z http://journalarticle.ukm.my/18446/ Implementation of IFRS 13 fair value measurement : issues and challenges faced by the Islamic financial institutions in Malaysia Nathasa Mazna Ramli, Abdul Rahim Abdul Rahman, Ainulashikin Marzuki, Marziana Madah Marzuki, Wan Amalina Wan Abdullah@Wan Muda, Fair value (FV) is claimed to be superior to other forms of measurement mainly because the former is easily understood by investors and stakeholders. However, the challenges faced in deploying International Financial Reporting Standards (IFRS) 13 FV Measurement could result in inconsistent application and unexpected costs related to the requirements of the standard. As such, this study explored the issues and challenges of implementing IFRS 13 FV Measurement faced by financial instruments, particularly within the context of Islamic Financial Institutions (IFIs). Upon adopting the qualitative approach, in-depth interview sessions were held with several academicians, accountants, auditors, and professional body representatives. The study outcomes revealed that issues in implementation of FV measurement were related to the relevance of measurement and hierarchy of level of FV measurement. Notably, issues pertaining to FV measurement were highlighted from the Shariah perspective. Valuable insights on the issues revolving around IFRS 13 implementation, particularly on financial instruments in Malaysia, are presented in this study. Penerbit Universiti Kebangsaan Malaysia 2021 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/18446/1/49756-174571-1-PB.pdf Nathasa Mazna Ramli, and Abdul Rahim Abdul Rahman, and Ainulashikin Marzuki, and Marziana Madah Marzuki, and Wan Amalina Wan Abdullah@Wan Muda, (2021) Implementation of IFRS 13 fair value measurement : issues and challenges faced by the Islamic financial institutions in Malaysia. Jurnal Pengurusan, 63 . pp. 1-12. ISSN 0127-2713 https://ejournal.ukm.my/pengurusan/issue/view/1456 |
| spellingShingle | Nathasa Mazna Ramli, Abdul Rahim Abdul Rahman, Ainulashikin Marzuki, Marziana Madah Marzuki, Wan Amalina Wan Abdullah@Wan Muda, Implementation of IFRS 13 fair value measurement : issues and challenges faced by the Islamic financial institutions in Malaysia |
| title | Implementation of IFRS 13 fair value measurement : issues and challenges faced by the Islamic financial institutions in Malaysia |
| title_full | Implementation of IFRS 13 fair value measurement : issues and challenges faced by the Islamic financial institutions in Malaysia |
| title_fullStr | Implementation of IFRS 13 fair value measurement : issues and challenges faced by the Islamic financial institutions in Malaysia |
| title_full_unstemmed | Implementation of IFRS 13 fair value measurement : issues and challenges faced by the Islamic financial institutions in Malaysia |
| title_short | Implementation of IFRS 13 fair value measurement : issues and challenges faced by the Islamic financial institutions in Malaysia |
| title_sort | implementation of ifrs 13 fair value measurement : issues and challenges faced by the islamic financial institutions in malaysia |
| url | http://journalarticle.ukm.my/18446/ http://journalarticle.ukm.my/18446/ http://journalarticle.ukm.my/18446/1/49756-174571-1-PB.pdf |