Addition to agenda for January 2009 IASB meeting

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19 Jan 2009

A new item has been added to the IASB Agenda for Tuesday 20 January 2009 relating to IFRIC Interpretation 16 Hedges of a Net Investment in a Foreign Operation.

The IFRIC staff is proposing a fast-track amendment to IFRIC 16 to remove the restriction, currently in IFRIC 16, that the hedging instrument for a net investment in a foreign operation cannot be held by the foreign operation whose net investment is being hedged. Because IFRIC 16 is effective for annual periods beginning on or after 1 October 2008 with prospective application, and because hedge accounting designations cannot be retrospective, the staff believes that the amendment should be done urgently.


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