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IACPM Submits Comment Letter to the IASB

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  • IACPM Submits Comment Letter to the IASB
07/10/2013

The IACPM has submitted a comment letter in response to the IASB's publication of Exposure Draft "Financial Instruments: Expected Credit Losses", detailing its key concerns with the IASB's approach to updating credit loss standards.

In the letter, IACPM's Credit Loss/Impairment Working Group expresses several objections to the proposed standards, including the failure to align recognition of revenue and expense, and the need to better define lifetime loss. The comment letter closes with suggestions for how the IASB's proposed standards could be redefined to better serve its purpose.

This comment letter follows a success for CPM with the IASB when the IACPM identified issues which remained very restrictive on hedging accounting and fair value requirements. In September 2012, IASB released the final draft of the General Hedge Accounting Requirements and they incorporated the bulk of the changes that IACPM had been seeking.

Click here to access the full comment letter

IASB Exposure Draft on Expected Credit Losses

 

Status: Outstanding. Discussions are ongoing with the IASB.