This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Financial instruments — Disclosures

Background

This project had started out to develop a Standard on presentation and disclosure in the financial statements of entities that carry out deposit-taking, lending, or securities business activities. The Standard would replace IAS 30 Disclosures in the Financial Statements of Banks and Similar Financial Institutions. Reconsideration of IAS 30 is necessary particularly in light of developments in the industry and the issuance of IAS 1 (revised 1997) Presentation of Financial Statements, and IAS 39 Financial Instruments: Recognition and Measurement.

However, in late 2002, the IASB made a fundamental change in the direction of this project. The project then became, more broadly, a project on disclosure of:

  • qualitative information about risk exposures arising from financial instruments
  • quantitative data based on management's risk management system
  • minimum disclosures about credit risk, liquidity risk, and market risk (including interest rate risk).

As the approach to the project shifted, so has the name of the project. It has progressed through the following:

  • Disclosure and presentation by banks and similar financial institutions
  • Financial activities (deposit-taking, lending, and securities activities): Disclosure and presentation
  • Disclosures of risks arising from and other disclosures relating to financial instruments

 

Current status of the project

This project has been completed. IFRS 7 Financial Instruments: Disclosures and Capital Disclosures (Amendments to IAS 1) were issued on 18 August 2005.

 

Project milestones

DateDevelopmentComments
22 July 2004 Exposure Draft ED 7 Financial Instruments: Disclosures published Comment deadline 22 October 2004
18 August 2005 IFRS 7 Financial Instruments: Disclosures Effective for annual periods beginning on or after 1 January 2007
18 August 2005 Capital Disclosures (Amendments to IAS 1) issued Effective for annual periods beginning on or after 1 January 2007

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.