Final answer:
True, the International Accounting Standards Board (IASB) is considering a proposal to provide expanded guidance on estimating fair values for financial reporting to ensure consistency and reflect market participant views.
Step-by-step explanation:
True. The International Accounting Standards Board (IASB) is indeed considering a proposal to offer expanded guidance on how to estimate fair values when financial reporting. This consideration is aimed at ensuring that fair value measurements are consistent and based on the best information available, reflecting market participant views.
The fair value is a critical concept in accounting, particularly in the International Financial Reporting Standards (IFRS), where it is often required for financial statement preparation. Expanded guidance would provide clarity on how to make these estimates, potentially affecting various stakeholders such as auditors, accountants, and financial analysts.
The IASB's work on fair value estimation forms part of its broader role in providing global standards for financial reporting, designed to enhance transparency and comparability across international boundaries.