THE International Accounting Standards Board has issued a Review Draft of the
standard on general hedge accounting. This forms part of the third phase of the
IFRS 9 Financial Instruments project to replace IAS 39 Financial Instruments:
Recognition and Measurement.
This
new standard is put in place to permit numerous entities to enhance their
financial risk management triggered in their financial statements. The Board has
made several considerable changes to certain aspects of the proposals in the
ED.
The
Review draft will be available on the IASB’s website for 90 days till early
December 2012 so that entities can study the RD and understand the potential
impact of the changes. It will also help to familiarize themselves with the
document.
The
IASB is not seeking formal comments on the Review Draft and will finalise the
draft after this. The concluding standard will be issued in the fourth quarter
of 2012.
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