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Updated EFRAG endorsement status report

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

28 Jun 2013

The European Financial Reporting Advisory Group (EFRAG) has updated its report showing the status of endorsement, under the EU Accounting Regulation, of each IFRS, including standards, interpretations, and amendments. The latest report includes 'Novation of Derivatives and Continuation of Hedge Accounting (Amendments to IAS 39)' issued by the IASB yesterday.

On 27 June 2013, the International Accounting Standards Board (IASB) issued Novation of Derivatives and Continuation of Hedge Accounting (Amendments to IAS 39 'Financial Instruments: Recognition and Measurement'). Under the amendments there would be no need to discontinue hedge accounting if a hedging derivative was novated, provided certain criteria are met. The amendments are effective for annual periods beginning on or after 1 January 2014, with earlier application being permitted.

Endorsement of the amendments for application in Europe might be expected in the first quarter of 2014.

Please click for the EFRAG Endorsement Status Report as of 27 June 2013.

Correction list for hyphenation

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