One of the key reasons for issuing AASB 13 Fair Value Measurement was to establish a single source of guidance for all fair value measurements required or permitted by IFRSs to reduce complexity and improve consistency in their application.

Question

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This statement is true. The aim of AASB 13 was to provide a clear and comprehensive framework for fair value measurement that could be applied consistently across different financial reporting standards.

One of the Key Reasons for Issuing AASB 13 Fair