The potential impacts of fair value within the professional field are
inflated numbers and false future predictions. Fair value is trying to
predict a business's success off current market value, which is subject
to change. Information that would be most valuable to management,
lenders, and investors should be accurate numbers. Being 100%
honest with where a business is financially could help resolve a lot of
issues, instead of simply hiding them for short-term gain. In order to
understand a business's financial health the best data to look at
would be historical data, data that is factual and can be researched
fully.
McCollum, T. (2008). Fair Value Under Fire. Internal Auditor, 65(6),
13–14.
