'Near final draft' on financial guarantee contracts

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15 Jul 2005

The IASB has posted on its website the 'near-final draft' of its amendments to IAS 39 Financial Instruments: Recognition and Measurement and IFRS 4 Insurance Contracts relating to financial guarantee contracts.

The amendments are effective for annual periods beginning 1 January 2006, with earlier application permitted. The intent of the amendments is to clarify which standard – IAS 39 or IFRS 4 – should be followed in accounting for financial guarantee contracts. Near-final drafts may be accessed by subscribers to IASB publications.

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