Ifrs 13

IFRS 13 establishes a single framework for measuring fair value and requires disclosures about fair value measurements. It defines fair value as the price received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are categorized within a three-level hierarchy based on the type of inputs used. Level 1 inputs are quoted prices in active markets, Level 2 are observable inputs other than quoted prices, and Level 3 are unobservable inputs. The objective is to increase consistency and comparability by prioritizing observable inputs and disclosing the valuation techniques and inputs used.