File: 12-100-84

Scope and Content

"Fair Value Feb 1988-" inscribed on the cover

Contains material relating to the development of ED53 "Fair value in the context of acquisition accounting", and the work of the Fair Value Working Party [FVWP]. Contains a photocopy of a letter from ASC under-secretary Caroline Whiteley to the FVWP, 11 Feb 1988, enclosing a marked-up copy of a discussion paper on fair value. Contains copy letters Jul and Sep 1988 arranging meetings of the FVWP to review comments received on the discussion paper. Contains a photocopy of a letter, 31 Oct 1988, from R.N. Chinn, secretary of ICAEW's Technical Advisory Committee [TAC], to TAC members, enclosing an agenda and papers for a TAC meeting. Attachments to this letter include minutes of a previous TAC meeting at which the Fair Value discussion paper was presented. Also includes: ICAEW memoranda of comment on the discussion paper and on ED43; a draft of a submission to ASC on ED44 with manuscript annotations; a copy of a proposed International Federation of Accountants [IFAC] public sector guideline; and a paper on the drafting procedures of the ASC and APC. Contains copies of letters from Caroline Whiteley to the FVWP and to its chairman, J.P. Waddington, enclosing clean and marked-up drafts of a Fair Value exposure draft [ED53]. Contains copies of a paper "Summary of decisions taken by ad hoc sub-committee of ASC on 28 June 1989". Contains 2 copies of the text of an article on fair value, by Caroline Whiteley. Contains copies and originals of letters of comment on drafts of ED53 from: Roger Munson; the Department of Trade and Industry [DTI]; and from A.J. Hardcastle of the Treasury. Contains a letter, 7 Nov 1989, from the ICAEW TC [Technical Committee] secretary E.A. Buckley, to Desmond Wright, enclosing a draft of an ICAEW technical release "The use of discounting in financial statements". Also contains a note on discounting by J. Arnold [?FVWP]. Contains photocopies, originals and faxes of letters from ASC members, enclosing completed ballot slips on ED53.