Effective date of IFRS 7 offsetting amendments
On 16 December 2011, the IASB released Disclosures — Offsetting Financial Assets and Financial Liabilities (Amendments to IFRS 7).
The standard amends the disclosure requirements in IFRS 7 Financial Instruments: Disclosure to require information about all recognised financial instruments that are set off in accordance with paragraph 42 of IAS 32.
The new offsetting disclosure requirements are effective for annual periods beginning on or after 1 January 2013 and interim periods within those annual periods. The amendments need to be provided retrospectively to all comparative periods.