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ARC will meet on 1 October to consider IAS 39

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19 Sep 2004

The Accounting Regulatory Committee will meet on 1 October 2004 to decide on whether to recommend that IAS 39 Financial Instruments: Recognition and Measurement should be endorsed for use in Europe it its entirety or with two sections 'carved out'.

The two sections proposed for deletion are (1) the option for an entity to choose to measure any individual financial liability at fair value with value changes through profit and loss and (2) the prohibition against using fair value hedge accounting for core deposits. The opinions of both ARC and EFRAG will then be considered by the 25-member European Commission, who must make the final endorsement decision.

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