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Special IAS Plus newsletter on financial guarantees

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21 Dec 2005

In August 2005, the IASB amended the scope of IAS 39 Financial Instruments: Recognition and Measurement to include financial guarantee contracts issued by the entity.

If an issuer of financial guarantee contracts has previously asserted explicitly that it regards such contracts as insurance contracts and has used accounting applicable to insurance contracts, the issuer may elect to apply either IAS 39 or IFRS 4 Insurance Contracts to such financial guarantee contracts. Deloitte has published a (PDF 48k) explaining the IASB's amendments to IAS 39 and IFRS 4. You will find links to all past IAS Plus newsletters Here.

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