FTA letter to IASB project on Phase III of IFRS 9 - Hedge Accounting
Further to recent communication within the Finance & Treasury Association (FTA) Technical Committees, the FTA took the opportunity to submit a letter to the International Accounting Standards Board (IASB) to consider in its review of International Financial Reporting Standard (IFRS) 9 – Hedge Accounting.
It is the FTA’s view that Australian companies are particularly well qualified to comment on hedge accounting proposals given the significant number of large corporate users of hedge accounting instruments, in particular our highly regarded global mining houses, airlines and globally-ranked banks. Furthermore, the Australian market is very sophisticated and many Australian companies are active participants in the global capital markets which necessitates the use of derivatives for risk management purposes.
The development of the letter was lead by FTA member, Steven Cunico CFTP, Executive Director Ernst & Young.
Download FTA letter to IASB project on Phase III of IFRS 9 — Hedge Accounting (31 July 2010).