IFRS newsletter - English - April 2009
Ready ! Steady ! Go ! Yet the IASB and the FASB started a long run in order to issue an exposure draft on financial instruments by the end of the year 2009. The Financial Crisis Advisory Group supported their initiative. Many respondents expected the Board to modify IAS 39 before year-end but the IASB denied this too ambitious schedule.
Now the IASB has no choice but comply with the timeframe and propose relevant changes to the current requirements. This project ranks first in the Board’s agenda. Thus, Summer should be busy for everyone interested in this project.
Before we are able to tell you more about financial instruments, BEYOND the GAAP highlights the main issues in the 2009 Improvements vintage. We are pleased as well to provide you with the draft changes of IAS 12 ‘Income tax’ for you to identify the