ICAI Invites Member’s Opinions on Amendment Proposed by IASB on IFRS 9 and IFRS 7
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- By Chetan Kulasri
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- Last Updated on 10 June, 2024
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Considering the challenges faced in the accounting of renewable electricity, International Accounting Standard Board (IASB) has proposed amendment in IFRS 9, Financial Instruments and IFRS 7, Financial Instruments: Disclosures. The amendment discusses briefly about the factors to be considered by the entity when applying the provision of IFRS 9 in respect of renewable electricity contracts and also discusses about its hedge accounting requirements. Thus, to adhere with the exposure draft issued by IASB, ICAI invites its member to provide their opinion on the proposed amendment by July 8, 2024.
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