The IASB published amendments to IFRS 9 on hedge accounting in November 2013. This is the third phase in the project to replace the accounting for financial instruments under IAS 39. The new requirements align hedge accounting more closely with risk management, and so should result in more ‘decision-useful’ information to users of financial statements. The requirements, which address general hedging of financial and non-financial items, will have an impact on most businesses currently doing hedge accounting or considering it.
This video (recorded in December 2013) looks at the main changes introduced by IFRS 9 and their practical implications.