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Comment: "Measuring Quoted Investments in Subsidiaries, Joint Ventures and Associates at Fair Value"

Grant Thornton International Ltd. welcomes the Board's decision to clarify the unit of account when measuring the fair value of investments in subsidiaries, joint ventures and associates. We agree with the Board's overall conclusion that the unit of account is the investment as a whole.

However, we question the Exposure Draft's proposal that the fair value measurement of quoted investments in subsidiaries, joint ventures and associates should always be the product of the quoted price multiplied by the quantity. We believe that a valuation that reflects the level of control or influence is likely to provide more relevant information about both quoted and unquoted investments.

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