IASB: Amendments to IAS 39: The Fair Value Option

06 December 2004

In September the IASB discussed the 116 comment letters received Exposure Draft of proposed amendments to IAS 39’s fair value option issued in April. The Board noted that a large majority of respondents did not agree with the proposals in the Exposure Draft. It also noted that reverting to the unrestricted fair value option in the existing version of IAS 39 would not address the concerns of regulators, which were the reasons for issuing the Exposure Draft.

Since that meeting, the staff with the help of a few Board members has been trying to establish whether there is a solution that could be acceptable to all parties and have developed the approach set out in the Appendix.

It is proposed to revise the text in the appendix in the light of Board members’ comments and then use the revised text as the basis for one or more public roundtable discussions. The objective of these discussions would be to examine any concerns on the proposed approach and its operationality.

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