AcSB expresses overall support for the IASB’s proposals about the disclosures and presentation requirements for financial instruments with characteristics of equity
Mar 28, 2024
On March 28, 2024, the Accounting Standards Board Canada (AcSB) responded to the IASB’s Exposure Draft, “Financial Instruments with Characteristics of Equity”, issued in November 2023.
The AcSB expressed overall support for the IASB's proposed disclosure and financial statement presentation requirements in the Exposure Draft. They believe these proposals, which respond to the feedback from the June 2018 Discussion Paper "Financial Instruments with Characteristics of Equity," will offer more decisive and helpful information to financial statement users about complex financial instruments, thus enhancing comparability.
However, the AcSB believes that IASB's current Exposure Draft should have concentrated solely on disclosures and financial statement presentation as the specific classification and measurement proposals do not fulfill the IASB's objectives for this project. Nonetheless, should the IASB proceed with these classification and measurement proposals, the AcSB recommends additional modifications and clarifications.
Access the comment letter on the IFRS’s website.
