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IASB Amends Derecognition Disclosure Requirements

Published on: 07 Oct 2010

Today, the IASB finalized its amendments to IFRS 7, Financial Instruments: Disclosures. The new requirements are contained in Disclosures — Transfers of Financial Assets (Amendments to IFRS 7) and are intended to:

  • Improve the understanding of financial asset transfers and the “possible effects of any risks that may remain with the entity that transferred the assets.”
  • Give users additional information about significant amounts of transfer activity that occurs at the end of a reporting period.
  • Align the disclosure requirements about the transfer of financial assets under IFRSs and U.S. GAAP.

The amendments apply to annual periods beginning on or after July 1, 2011.

For more information, see the press release on IASB’s Web site.

In addition, on October 11 the IASB will hold a live webcast to introduce the disclosure amendments. Although the webcast is free, interested parties must register to participate.

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