The Accounting Standards Board (ASB) has
proposed amendments to improve the disclosures on transfers of
The proposals amend the disclosure
requirements in FRS 29 (IFRS 7) Financial Instruments: Disclosures
to help users of financial statements evaluate an entity’s risk
exposure arising from transfers of financial assets as well as any
resulting impact on its financial position.
The amendment enhances the information
currently provided in financial statements in relation to risk
exposures arising from transfers of financial assets by an entity.
The changes are identical to those made by the IASB ensuring the
requirements in the two standards do not diverge.
The ASB said the need for the proposed
amendment is a result of the International Accounting Standards
Board amendments of the disclosure requirements in IFRS 7 Financial
Instruments: Disclosures in October 2010.
Deadline for comment on the amendments is 30