ARC endorses revised IAS 39 fair value option

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11 Jul 2005

At its meeting on 8 July 2005, the Accounting Regulatory Committee, which advises the European Commission on adoption of individual International Financial Reporting Standards for use in the European Union, agreed unanimously to recommend endorsement of an amended version of IAS 39 that includes revised provisions relating to the fair value option (FVO).

When the Commission adopted IAS 39 last year, the FVO provisions were carved out. The Commission has already consulted the European Parliament on the revised FVO and, provided Parliament raises no objections, the Commission intends to adopt the amended standard by the end of September 2005. Adoption will be retroactive to 1 January 2005, so that companies can apply the amended standard for their 2005 final statements. Click for:

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