IASB proposes revisions for clearer financial instrument reporting

Posted on December 10, 2023 by Editor

The International Accounting Standards Board (IASB) has proposed amendments to IAS 32, IFRS 7, and IAS 1 to enhance accounting requirements for financial instruments with both debt and equity features.

IAS 32 currently guides the classification of financial instruments as debt or equity. However, evolving instruments have led to diverse accounting practices, making it challenging for investors to assess and compare companies.

The proposed changes aim to clarify classification principles, mandate additional disclosures for instruments with mixed features, and introduce new presentation requirements for amounts attributable to ordinary shareholders.

Andreas Barckow, Chair of the IASB, emphasised the goal of providing transparency to investors and enhancing communication between companies and stakeholders.

Stakeholders are invited provide feedback until 29 March 2024.

Read more here.

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