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The IASB published an update on the progress of its comprehensive review of IAS 39 Financial Instruments. The IASB also posted an update of how it is responding to concerns previously raised by the European Commission.
At its Board meeting in May 2009, the IASB revised its April 2009 timetable for the comprehensive review of its standard on the recognition and measurement of financial instruments, IAS 39.
The revised timetable foresees to publish an exposure draft on the classification and measurement of financial instruments during July 2009, with the objective of issuing a standard in time for 2009 year-end financial statements.
Regarding the impairment of financial assets the Board plans to publish proposals in October 2009, including consideration of an expected loss model.
The Board intends to address hedge accounting in a separate exposure draft before the end of 2009.