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Sharing session with Kevin Stevenson, Chairman of the Australian Accounting Standards Board on IASB ED Financial Instruments: Amortised Cost and Impairment

14 May 2010
Sharing session with Kevin Stevenson, Chairman of the Australian Accounting Standards Board on IASB ED Financial Instruments: Amortised Cost  and Impairment

In conjunction with the issuance of IASB Exposure Draft (ED) on Financial Instruments: Amortised Cost and Impairment, and with the objective of creating awareness amongst local constituents, the MASB successfully invited, Kevin Stevenson, chairman of the Australian Accounting Standards Board, to share his experiences on Financial Instruments.

Kevin Stevenson shared the Australian experience in the application of IAS 39 and also how the proposed expected cash flow method in the IASB ED would change the current practice. He also shared with the local constituents the concerns expressed from the Australian entities regarding the ED.

Participants who attended the sharing session were mainly local financial institutions, regulators and other public listed companies.