IFRIC 16 – Amendment to the restriction on the entity that can hold hedging instruments
Background
In January 2009, the IASB agreed to amend IFRIC 16 Hedges of a Net Investment in a Foreign Operation to allow entities to designate as a hedging instrument in a hedge of a net investment in a foreign operation an instrument that is held by the foreign operation that is being hedged.
Current status of the project
This project has been completed. After initially being exposed in a separate exposure draft (along with the amendments to IFRIC 9), an amendment to IFRIC 16 was included in Improvements to IFRSs, issued on 16 April 2009.
Project milestones
| Date | Development | Comments |
|---|---|---|
| January 2009 | Added to the IASB's agenda | |
| 30 January 2009 | Exposure Draft ED/2009/1 Post-implementation Revisions to IFRIC Interpretations (Proposed amendments to IFRIC 9 and IFRIC 16) issued | Comment deadline 3 March 2009 |
| 16 April 2009 |
Improvements to IFRSs issued | Amendments to IFRIC 16 effective for annual periods beginning on or after 1 July 2009 |
