27 November 2008

IASB revised IAS 39 reclassification amendments

The IASB issued an updated version of the recent Reclassification Amendments to IAS 39 and IFRS 7 to clarify the effective date of the amendments.

The IASB subsequently clarified the effective date requirements at its meeting in October, as follows:

Any reclassification made on or after 1 November 2008 takes effect from the date of reclassification. However, any reclassification before 1 November 2008 can take effect from 1 July 2008 or a subsequent date. A reclassification cannot be applied retrospectively before 1 July 2008.

Press release

Reclassification amendments

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