IAS Plus newsletter - Special Global Edition – Amendment to IAS 39 and IFRS 4 - Financial Guarantee Contracts

Published on: 21 Dec 2005

Amendment to IAS 39 and IFRS 4 – Financial guarantee contracts

On 18 August 2005, the International Accounting Standards Board (IASB) amended the scope of IAS 39 financial guarantee contracts issued by the entity. If an issuer of financial guarantee contracts has previously asserted explicitly that it regards such contracts as insurance contracts and has used accounting applicable to insurance contracts, the issuer may elect to apply either IAS 39 or IFRS 4 Financial Instruments: Recognition and Measurement to includeInsurance Contracts to such financial guarantee contracts.


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