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Description :
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EFRAG sent its comment letter upon the Exposure Draft of proposed amendments to IFRIC 9 Reassessment of Embedded Derivatives and IFRIC 16 Hedges of a Net Investment in a Foreign Operation in February 2009. EFRAG was supportive that the scope of IFRIC 9 be amended
to make it clear that IFRIC 9 does not apply to embedded derivatives in contracts acquired in a business combination, a combination of entities under common control or the formation of joint ventures. However, EFRAG communicated also that acquisitions of associates should be excluded from the scope of IFRIC 9. EFRAG agreed with the proposed amendment to IFRIC 16, which would remove the restriction that the hedging instrument cannot be held by the foreign operation net investment in which is being hedged.
IFRIC 16 was amended by Improvements to IFRSs issued April 2009 with effective date 1 July 2009. For more information upon Annual Improvements, click here.
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Working groups :
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EFRAG Technical Expert Group (EFRAG TEG) -
Financial Instruments Working Group (FIWG) -
Insurance Accounting Working Group (IAWG) -
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Current Project Status :
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Published in Official Journal
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Efrag Output
No 'Efrag Output'
Comment Letters
No 'Comment Letters'
Other Input
No 'Other Input'
News Items
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