Publication date: 10 Nov 2020
Key points
The IASB has issued further amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 that address issues arising during the reform of benchmark interest rates, including the replacement of one benchmark rate with an alternative one. The amendments are effective from 1 January 2021. In this Spotlight we focus on the implications for corporate entities (that is, non-financial institutions) and, in particular, their treasury function. This Spotlight will focus on:
While this Spotlight focuses on the areas listed above, there might be other related accounting issues. Entities are reminded to consider all potential accounting issues and to refer to In depth: Practical guide to Phase 2 amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 for interest rate benchmark (IBOR) reform.
© PricewaterhouseCoopers LLP