International Financial Reporting Standards

ISDA’s work with the IASB, the European Commission and the UK's Department of Trade and Industry


DateTitle / DescriptionDocuments
February 9, 2016
ISDA responds to IASB consultation on Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts
On February 5, ISDA’s Accounting Committee responded to an International Accounting Standards Board (IASB) proposal to address the different effective dates of application of IFRS 9 ‘Financial Instruments’ and the new insurance contracts standard ‘IFRS 4’. Members agree this is an important issue for insurance companies. Resolving this issue promptly will help ensure IFRS 9 is endorsed as soon as possible and remove any uncertainly on the date of application.
ISDA response to IASB IFRS 9 IFRS 4 insurance website.pdf
February 9, 2016
ISDA response to tentative agenda decision on IAS 32 Financial Instruments: Presentation- Offsetting and cash pooling
On February 4, ISDA’s Accounting Committee responded to the International Financial Reporting Standards (IFRS) Interpretations Committee on a fact pattern related to notional cash pooling facilities and the application of the offsetting rules. We do not believe that ‘intention’ as required by IAS 32 implies a certainty in period end balances, but instead an expectation in the net exchange of settlement amounts arising from an asset and liability on a specified date. We believe the tentative agenda decision should be amended to highlight the principles of IAS 32 and should not set out an opinion for this specific fact pattern.
ISDA IFRIC comment letter on IAS 32 Offsetting 05022016 website.pdf
December 14, 2015
ISDA responds to the IASB’s on the ‘Request for Views: 2015 Agenda Consultation’
On December 11, ISDA’s Accounting Committee responded to a public consultation issued by the International Accounting Standards Board (IASB) seeking views on whether the IASB has the right priorities for its work plan, and whether the projects identified are indeed the most pressing areas for improving International Financial Reporting Standards (IFRS).
ISDA response to IASB Agenda Consulation final website.pdf
November 25, 2015
ISDA responds to IASB consultation on the Conceptual Framework
On November 25, ISDA’s Accounting Committee responded to a public consultation issued by the International Accounting Standards Board (IASB) seeking feedback on an exposure draft proposing a revised Conceptual Framework (CF). The CF describes the basic concepts related to the preparation and presentation of financial statements underpinning the accounting of derivatives transactions.
ISDA CF 25112015 web.pdf
November 19, 2015
ISDA responds to the EFRAG’s consultation on Conceptual Framework
On November 18, ISDA’s Accounting Committee responded to a public consultation issued by the European Financial Reporting Advisory Group seeking views from all stakeholders on an exposure draft published by the International Accounting Standard Board on the Conceptual Framework (CF). The CF describes the basic concepts that lie beneath the preparation and presentation of financial statements underpinning the accounting of derivatives transactions.
ISDA - EFRAG response letter on CF final web.pdf
October 15, 2015
Consideration of Accounting Analysis for CCP Recovery and Continuity Tools
This paper examines some factors that central counterparties (CCPs) should consider in structuring partial tear-up methodologies so as not to contravene rules on offsetting under the applicable accounting standards, which would render cleared derivatives uneconomical. The paper notes that CCPs can structure partial tear-up in a number of ways. Whatever the structure, the CCP’s methodology for partial tear-up should be transparent, written in its rule book, available to all potentially affected parties and should respect US GAAP and IFRS accounting standards.
ISDA Accounting Committee_CCP Recovery tools White Paper -  Oct 13 2015 FINAL.pdf
June 30, 2015
ISDA responds to EFRAG’S assessment on IFRS 9 Financial Instruments endorsement in the EU
On June 30, ISDA’s Accounting Committee responded to a consultation issued by the European Financial Reporting Advisory Group (EFRAG) seeking feedback and views from stakeholders on the endorsement of IFRS 9 Financial Instruments in the European Union.
ISDA Draft EFRAG Endorsement Advice final.pdf
January 16, 2015
ISDA response to IASB draft on measuring quoted investments in subsidiaries, JVs and associates at fair value
On January 16, ISDA’s Accounting Committee responded to a consultation by the International Accounting Standards Board (IASB) seeking feedback and views from all stakeholders on measuring quoted investments in subsidiaries, joint ventures and associates at fair value (ED/2014/4).
ISDA response IASB ED on quoted subsidiaries final isda website.pdf
November 28, 2014
ISDA response to the IVSC exposure draft on the valuation of equity derivatives
On November 28, the Accounting Committee responded to a consultation issued by the International Valuation Standard Council seeking feedback and views from all stakeholders on complex equity derivatives valuation topics.
IVSC equity derivatives final isda.pdf
November 10, 2014
ISDA response to EC consultation on the impact of IFRS in the EU
On November 7, ISDA’s Accounting Committee responded to a consultation issued by the European Commission (EC) seeking views from all stakeholders on their experience of Regulation 1606/2002 (the IAS Regulation), which pursues the adoption and use of international accounting standards in the European Union (EU), with a view to harmonising the financial information and its impact on cross-border transactions, cost of capital, investor protection, transparency and comparability of financial information across the EU and confidence in the financial markets.
ISDA response to EC consultation  on the impact of IFRS in the EU.pdf