The Accounting Standards Board (ASB) has
published amendments to enhance the disclosures on transfers of
financial assets.

The amendments relate to disclosure
requirements in FRS 29 (IFRS 7) ‘Financial Instruments:
Disclosures’ and will enable users of financial statements to
evaluate an entity’s risk exposure arising from transfers of
financial assets and any resulting impact on the financial

The amendments enhance 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.

Entities are required to apply the amendments
for annual periods beginning on or after 1 July 2011.


How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.