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Asset and liability offsetting 

Although the offsetting project was a joint project between the IASB and the FASB, the Boards each decided to maintain their own current – and different – offsetting models. The IASB published amendments to IAS 32 and IFRS 7 on 16 December 2011. The amendments to IFRS 7 add disclosure requirements to IFRS 7 and are effective for annual periods beginning on or after 1 January 2013 and interim periods within those annual periods. The amendments to IAS 32 clarify the offsetting criteria in IAS 32 and are effective for annual periods beginning on or after 1 January 2014.

 

Timeline:


Asset and liability offsetting

 IFRS Insights

Chris Spall

Chris Spall

Global IFRS Financial Instruments Leader

+44 20 7694 8445

Terry Harding

Terry Harding

Global IFRS Financial Instruments Deputy Leader

+44 20 7694 8105

Enrique Tejerina

Enrique Tejerina

Global IFRS Financial Instruments Deputy Leader

+1 212 909 5530