The staff noted that 107 requests have been received by the deadline to participate in the IAS 32/39 roundtable discussions. The Board agreed at a prior meeting that a set of guiding principles and questions would be distributed to participants prior to the roundtable discussions. The discussion focussed on finalising that document to be sent out to the participants.

The document will highlight several guiding principles that underlie the proposals in the ED. The Board will ask the participants whether they agree with these principles at the roundtable. The questions will be organised into the following five sections:

• The distinction between debt and equity, including derivatives on own shares,
• Derecognition of financial assets,
• Derivatives and hedge accounting,
• Impairment of financial assets, and
• Other issues

The Board was clear that the participants should not in any way feel obligated to respond to each question either in writing prior to the discussions or during the discussions. The participants should focus their efforts on those issues that they believe should be improved. After the discussions, the staff was requested to make the appropriate changes, clear those changes through selected Board members, and then post the document to the website.