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EU Council discusses IAS 39; ARC will meet 9 July

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06 Jul 2004

At its meeting in Brussels yesterday, the Council of Economics and Finance Ministers of the European Union received a report from Internal Market Commissioner Frits Bolkestein about "the pending endorsement of IAS 39, on recognition, derecognition, and measurement of financial instruments (notably derivatives), and hedge accounting".

Mr. Bolkestein reported on the 14 June 2004 meeting of the Accounting Regulatory Committee (see news story of 5 July below). He said that the Commission is awaiting the opinion of EFRAG and will outline its suggestions concerning how best to proceed as regards endorsement of IAS 39 at a further meeting of the Accounting Regulatory Committee on 9 July. Click for (PDF 88k).

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