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We comment on the staff paper on IAS 39 FV option

  • Deloitte Comment Letter Image

11 Apr 2005

Deloitte Touche Tohmatsu has submitted comments on the IASB staff paper of 23 March 2005 on the Proposed Amendment to IAS 39: The Fair Value Option–Effective Date and Transition Provisions. The staff paper sets out an overview of certain alternatives on the basis of the Board's tentative decisions.

Our comments are based on this brief paper without full consideration of a detailed analysis of the alternatives. Click to (PDF 51k). Our overall view:

While we remain of the view that the unrestricted fair value option as set out in IAS 39 Financial Instruments: Recognition and Measurement (Revised in March 2004) is preferable to a restricted version, we support the Board's current proposal compared to the previous restricted fair value option detailed in the Exposure Draft (June 2004). We encourage the Board to issue the amendment as soon as practicable.

All past Deloitte comment letters to IASB and IASC are Here.

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