Reminder about upcoming comment deadline: IFRIC D22
14 Oct 2007
We remind you that the deadline is Friday, 19 October 2007, for responding to IFRIC Draft Interpretation D22 – Hedges of a Net Investment in a Foreign Operation..
IFRIC D22 clarifies two issues that have arisen on two accounting standards – IAS 21 The Effects of Changes in Foreign Exchange Rates and IAS 39 Financial Instruments: Recognition and Measurement – about the accounting for hedging foreign currency risk within a company and its foreign operations. The IFRIC proposal clarifies what qualifies as a risk in the hedge of a net investment in a foreign operation and where within a group the instrument that offsets that risk may be held.