Newsletter on embedded derivatives assessment

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09 Jan 2009

Deloitte's IFRS Global Office has published an IAS Plus Update Newsletter – Proposed Amendments Regarding the Assessment of Embedded Derivatives on Reclassification. The newsletter explains the IASB's proposals, published 22 December 2008, to clarify the requirements of IAS 39 Financial Instruments: Recognition and Measurement and IFRIC 9 Reassessment of Embedded Derivatives.

The proposals, if finalised, would make clear that reclassifications of financial assets under the October 2008 amendments to IAS 39 trigger a (re)assessment for embedded derivatives.

The turnaround time for the exposure draft is very short. Comments are required by 21 January and, if finalised, the amendments would be effective for years ending on or after 15 December 2008. Therefore, you will need to monitor the progress of the project so that the final requirements are incorporated in financial statements for December 2008 and subsequent accounting periods.
Click for IAS Plus Update Newsletter (PDF 115k)
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