This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Lack of Exchangeability (Possible Amendments to IAS 21) [Research]

Next steps:

The IASB will continue its discussion of this issue at a future meeting

Last updated:

November 2019

Overview

At its meeting on November 20, 2019, the IASB discussed a recommendation from the IFRS Interpretations Committee (IFRIC) to undertake narrow-scope standard-setting on the spot exchange rate an entity uses when exchangeability between two currencies is lacking.

The Board agreed with the IFRIC’s recommendation and tentatively decided to undertake narrow-scope standard-setting on this matter. The Board also discussed the IFRIC’s recommendations regarding how to amend IAS 21 in this respect.  In particular, the Board discussed the Committee’s analysis and recommendations on how to: (i) define exchangeability and, thus, a lack of exchangeability; and (ii) determine the spot exchange rate when exchangeability is lacking.

Other developments

November 2019

At its meeting on November 20, 2019, the IASB added this pro­ject to its work plan.

 

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.