IASB propose new financial instruments disclosure requirements
Banks may be forced to include more information about financial instruments
Banks may be forced to include more information about financial instruments
The International Accounting Standards Board (IASB) has proposed further
amendments to its financial instruments proposals.
The board has been attempting to improve disclosure on often
difficult-to-measure “level three” assets. Level one and two assets can be
valued using observable market inputs.
Level three assets, however, do not contain observable inputs and have to be
measured according to a constructed model. Companies are obliged to disclose a
measurement uncertainty analysis to justify their measurement figures.
The IASB said it is considering forcing companies to include more information
around the interdependencies between unobservable inputs used to measure the
asset.
The IASB is seekin input on the proposals with consultation due to end on 7
September.
Further reading:
IASB
proposes improvements to disclosure requirements for Level 3 fair value
measurements
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