The objective of financial reporting is to provide financial information that is useful to existing and potential investors, lenders and other creditors (IASB’s Conceptual Framework ED/2015/3). General purpose financial reports provide information about the financial position of a reporting entity, as well as information about the effects of transactions and other events that will change a reporting entity’s economic resources and claims (para 1.12 ED/2015/3). Investor confidence and trust in the financial statements is a crucial component for financial markets to function smoothly. This report presents the attitudes and concerns of over 700 respondents toward fair value accounting. The survey shows there is a high level of trust toward financial statements, with higher levels of trust shown in financial statements prepared using a hybrid measurement model of historical cost and fair value accounting vis-à-vis a single measurement basis model (either historical cost or fair value accounting).More than 75% of the survey respondents perceive fair value accounting to provide useful information for trading securities, available-for-sale securities and real estate; but less than 60% of the respondents perceive fair value accounting to provide useful information for held-to-maturity securities, loans and receivables, property, plant and equipment, biological assets and intangible assets. However, there are lingering concerns toward the reliability of fair value measurements. Specifically, 26% of respondents state that they distrust fair value estimates. The survey respondents have low/very low trust in Level 3 fair value estimates (39%) as compared to Level 1 and Level 2 fair value estimates (13% and 23% respectively).