PracticeConsultingIASB proposes more changes to IAS39

IASB proposes more changes to IAS39

Three amendments to the controversial standard on financial instruments have been published for consultation as standard setters continue to work towards a standard acceptable to Europe's banks.

Link: IAS39 dead in the water

The three exposure drafts released by the International Accounting Standards Board do not however relate to the ongoing broad examination of financial instruments or the board’s work on interest margin hedging.

The releases would allow companies an easier route to first time adoption of IAS39, clarify the treatment of foreign currency cash flow hedges, and require financial guarantee contracts to be measures initially at fair value.

‘These proposed amendments are an attempt to address some limited, but important, implementation issues on IAS39 and respond directly to certain concerns expressed by constituents,’ said IASB chairman Sir David Tweedie.

‘Our objective is to ease the implementation of IAS 39, and to ensure that liabilities for financial guarantees are not omitted from the financial statements. We shall welcome comments on whether the proposals meet their objective.’

Comments on the exposure drafts are requested by 8 October.

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

2m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

8m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

9m Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

10m Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

10m Stephanie Wix, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

9m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

9m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

10m Kevin Reed, Writer