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GAAP.RUNewsASB proposes Amendments to UITF Abstract 42 and FRS 26

ASB proposes Amendments to UITF Abstract 42 and FRS 26

Publication date: 30 June 2009

The Accounting Standards Board (ASB) has today issued a Financial Reporting Exposure Draft (FRED) on Embedded Derivatives proposing amendments to UITF Abstract 42 (IFRIC 9) “Reassessment of Embedded Derivatives” and FRS 26 (IAS 39) “Financial Instruments: Recognition and Measurement”.

As a consequence of the International Accounting Standards Board (IASB) issuing “Embedded Derivatives – Amendments to IFRIC 9 and IAS 39” on 12 March 2009, the Accounting Standards Board (ASB) has today issued a Financial Reporting Exposure Draft (FRED) on Embedded Derivatives proposing amendments to UITF Abstract 42 (IFRIC 9) “Reassessment of Embedded Derivatives” and FRS 26 (IAS 39) “Financial Instruments: Recognition and Measurement”.