EC 'FAQ' publication on IAS 39 fair value option

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13 Jul 2005

The European Commission has published (PDF 94k), providing the Commission's views on the following questions: Why did the Commission carve out the full fair value option in the original IAS 39 standard? Do prudential supervisors support the IAS 39 FVO as published by the IASB? When will the Commission to adopt the amended standard for the IAS 39 FVO? Will companies be able to apply the amended standard for their 2005 financial statements? Does the amended standard for IAS 39 FVO meet the EU endorsement criteria? What about the relationship between the fair valuation of own liabilities under the amended IAS 39 FVO standard and under Article 42(a) of the Fourth Company Law Directive? Will the Commission now propose amending Article 42(a) of the Fourth Company Directive? What about the remaining IAS 39 carve-out relating to certain hedge accounting provisions? .

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