NEW HEDGE ACCOUNTING STANDARD IS PUBLISHED –
FINALLY!
Almost three years after the exposure draft, the IASB
published the third phase of the IFRS 9 project on hedge
accounting. Gabriela Martinez from PwC's Accounting Consulting
Services examines the new guidance.
The IASB published the long-awaited standard on hedge accounting
in November. The changes have been widely accepted by preparers as
an improvement. The new guidance provides relief from the
'rules-based' approach in IAS 39 and is likely to allow
hedge accounting in more circumstances.
The 'amendments' to IFRS 9 represent the third phase of
the project to replace IAS 39 as the standard on financial
instruments accounting. The first phase is 'classification and
measurement' and the second phase is 'impairment'.
