Summary of 9 July 2004 ARC meeting
30 Jul 2004
The Accounting Regulatory Committee of the European Commission met on 9 July 2004 to discuss the possible endorsement of IAS 32 and IAS 39 for use in Europe.
We have previously posted reports from the meeting, including the possibility of "carving out" some paragraphs of IAS 39 dealing with hedge accounting and the fair value option. The official (PDF 197k) of the meeting has now been released by the European Commission. Notes relating to the "carve-out" include the following:
The Chairman asked the Member States for their initial reactions in particular on a possible Commission proposal on a partial endorsement of IAS 39:
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The ARC will meet next on 8 September 2004 to consider endorsement of IAS 39.