IASB announces membership of working group on financial instruments

21 September 2004

The International Accounting Standards Board (IASB) announced the membership of a financial instruments working group to review the accounting standard IAS 39 Financial Instruments. The review will focus on improving, simplifying and ultimately replacing IAS 39 and will examine broader questions of the application and extent of fair value accounting.

Although any major revision of IAS 39 may take several years to complete, the IASB is willing to revise the standard in the short term if any immediate solutions emerge from the working group’s discussions.

Details of the members and observers are given in the Appendix of the attached document.

Press release

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