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Financial instruments – Impairment - comment period

Date recorded:

The IASB and FASB staffs are currently drafting the supplement for exposure and intend to issue the supplement near the end of January. The Boards agreed to a 60 day comment period for exposure.

The Boards also held a brief discussion on outreach activities planned during and after the close of the comment period. The IASB staff mentioned that the plan for outreach was still being determined. Multiple FASB Board members expressed their desire that outreach go beyond that of the Expert Advisory Panel and that large and small financial institutions are included. A FASB Board member also reiterated that the outreach needs to be performed as a team between IASB and FASB staff so that both Boards receive consistent messages.

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