Redeemable Preferred Shares – AcSB
Date recorded:
At its meeting on July 13, 2017, the AcSB considered the proposed drafting of the amendments and key areas of the Basis for Conclusions. The Board also decided that: (i) shares classified as liabilities on initial recognition cannot subsequently be reclassified as equity; and (ii) shares classified as a liability should be measured at the redemption amount. The Board considered a communication plan for the forthcoming exposure draft and decided on its outreach activities with stakeholders. The Board directed staff to begin the balloting process for the proposals and will issue a re-exposure draft no later than September 30, 2017.
Review the Executive Summary on the AcSB's Web site.
