NEW YORK- The International Accounting Standards Board (IASB) issued on 31 July, 2008 an amendment to “International Accounting Standard (IAS) 39 Financial Instruments: Recognition and Measurement”.
The amendment clarifies how the existing principles underlying hedge accounting should be applied.
The amendment will be effective beginning on or after 1 July 2009.
IASB is committed to developing in the public interest a single set of high quality global accounting standards.
For more information please visit the following website: www.iasb.org