Australia

Details

  • Service: Audit, Accounting Advisory Services, International Financial Reporting Standards (IFRS)
  • Type: Regulatory update
  • Date: 26/11/2013

IFRS In the Headlines

IFRS In the Headlines
In the Headlines (formerly IFRS Briefing Sheets) provide a timely update on International Financial Reporting Standards (IFRS) developments.

Hedge accounting moves closer to risk management (2013/19) 

This In the Headlines looks at the IASB's new hedge accounting standard, which forms part of IFRS 9 Financial Instruments (2013).

On 19 November 2013, the IASB issued a new general hedge accounting standard – part of IFRS 9 Financial Instruments (2013) – which will align hedge accounting more closely with risk management.

 

The new standard does not fundamentally change the types of hedging relationships or the requirement to measure and recognise ineffectiveness; however, under the new standard more hedging strategies that are used for risk management will qualify for hedge accounting.