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Latest News
FRS 29 amendment
10 June 2009
The Accounting Standards Board (ASB) has issued 'Amendments to FRS 29 – Improving Disclosures about Financial Instruments'.
The Accounting Standards Board (ASB) has issued 'Amendments to FRS 29 – Improving Disclosures about Financial Instruments'. The amendments mirror those issued by the International Accounting Standards Board (IASB) in March 2009. The changes are a direct response to the credit crisis and will improve the quality of information disclosed in financial statements about financial instruments. Enhanced disclosures about fair value measurements and liquidity risk will now be needed. The ASB also took the opportunity to incorporate credit risk disclosures for loans and receivable as this requirement in IFRS 7 had not previously been adopted into UK GAAP.
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