At its meeting on July 22-23, 2020, the IASB met to continue a discussion, begun at its June 2020 meeting, of the feedback on its Exposure Draft. With respect to Accounting for qualifying hedges, the Board tentatively decided to: (i) permit, rather than require, an entity to reset cumulative fair values to zero for the purpose of performing the retrospective effectiveness assessment, as proposed in paragraph 102S of the Exposure Draft; and (ii) confirm the remaining proposals in the Exposure Draft related to the accounting for qualifying hedging relationships. The Board agreed that the amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 should not be re-exposed. All of the Board members confirmed they were satisfied that the Board has complied with applicable due process steps and that it has undertaken sufficient consultation and analysis to begin the balloting process for the amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16. No Board members indicated an intention to dissent from the issuance of amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16. The Board plans to issue the final amendments in August 2020.

Review the IASB Update and podcast on the Board's Web site.