The globalization of financial markets, the internationalization ofeconomic entities and the need to submit relevant information to current andpotential investors led to the progressive development of the concept of fairvalue in accounting. Presently it is accepted that fair-value measurementpresents more relevant information than the measurement at historical cost. Butthe reliability of fair value is questioned because it depends very much on theasset which has to be measured and the existence of active markets where assetscan theoretically be negotiated. In the absence of active markets, theestimation techniques are often used to determine fair value with sufficientreliability to satisfy qualitative characteristics of accounting information.In order to reflect the reality of this new world, the IASB has introduced IFRSaccounting rules which require or recommend the use of fair value measurementas the basis for most items in the financial statements of an economic entity.The opportunity of introducing this new concept has given rise to intensedebate, particularly as regards the financial instruments, to reach its peakwith the onset of financial crisis. Currently, discussions bearing on thetiming in which fair-value measurement will be extended to all elements offinancial statements. The purpose of this study is to answer the next question:Are professional accountants in Romania ready to apply a fair value accounting?