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IAS Plus newsletter — New derecognition model proposed for financial instruments

Published on: 18 Apr 2009

On 31 March 2009, the International Accounting Standards Board (IASB) initiated its public consultation on a revised derecognition model for financial instruments with the publication of an exposure draft ED/2009/3 Derecognition: Proposed amendments to IAS 39 and IFRS 7.

The ED proposes to replace the existing guidance on derecognition of financial assets and financial liabilities in IAS 39 Financial Instruments: Recognition and Measurement and the related disclosures required by IFRS 7 Financial Instruments: Disclosures. The ED also sets out an alternative derecognition model preferred by a minority of Board members.

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