KPMG

KPMG welcomes IASB’s new general hedge accounting standard

KPMG has welcomed the International Accounting Standards Board’s (IASB’s) new general hedge accounting standard — IFRS 9 Financial Instruments (2013) — that has been issued.

Enrique Tejerina, KPMG’s global IFRS financial instruments deputy leader, said: ‘Many preparers will support the new general hedge accounting standard. It provides a more principles-based approach that aligns hedge accounting more closely with risk management, which many constituents view as a positive step forward.’

Some industries — including banking and insurance — may believe that the new standard will not significantly change the ‘status quo’ from their perspective, as they await the IASB’s macro-hedging discussion paper in 2014. However, other industries may be keen to seize the opportunity to further align their hedge accounting with how they actually manage risk.

Briefings from KPMG

View more briefings from KPMG

Browse This Firm’s

Overview

15 Canada Square
London
E14 5GL
UK
http://www.kpmg.co.uk