IAS Plus Newsletter – Derecognition exposure draft
19 Apr 2009
Deloitte's IFRS Global Office has published an IAS Plus Update Newsletter – New Derecognition Model Proposed for Financial Instruments.
On 31 March 2009, the IASB published an exposure draft ED/2009/3 Derecognition: Proposed amendments to IAS 39 and IFRS 7. The ED proposes to replace the existing guidance on derecognition of financial assets and financial liabilities in IAS 39 Financial Instruments: Recognition and Measurement and the related disclosures required by IFRS 7 Financial Instruments: Disclosures. The ED also sets out an alternative derecognition model preferred by a minority of Board members. Comments are due by 31 July 2009. The Board plans public round-table discussions over the coming months to seek constituents' input and to explain the interaction between the proposals in the ED and the recent proposals on consolidation set out in ED 10 Consolidated Financial Statements.
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