Date: March 25, 2013

IssueAccounting and Auditing

To: International Accounting Standards Board

Filing Type: Regulatory

Description:  FIRCA sent a letter to the IASB regarding the Exposure Draft on Novation of Derivatives and Continuation of Hedge Accounting, FIRCA supports the proposal, although recommends allowing the proposed amendment to apply to either required or voluntary novations as a consequence of laws and regulations.

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