US proposals to ease controversial fair value accounting rules could alter practices around the world after the international accounting standard setter said it would also discuss the changes.

The US Financial Accounting Standards Board was poised on Tuesday to publish two staff papers that would allow banks and other companies more freedom in how they value financial assets. More securities would be valued by computer models rather than current market prices and many are expected to go up in value. A rule change could come into effect as early as next month.