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.
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
In our latest managing partner Q&A looking towards 2017, CVR Global's Richard Toone talks about recruitment, and the potential threat of competition from the legal sector, as key issues for the firm in the coming year
Deloitte to avoid tendering for government contracts over the next six months, to appease Theresa May following consultant's report that painted a less-than-flattering picture of Brexit plans
In our first Q&A looking towards 2017, Menzies senior partner Julie Adams flags up increasing digitisation, aligned with more hands-on consultative services, as the key mix for her practice