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The Interpretations Committee tentatively decided not to progress a potential narrow-scope project about the derecognition of modified or exchanged financial assets

 10 November 2015


The Interpretations Committee discussed whether to progress a potential narrow-scope project to clarify the guidance in IFRS 9 Financial Instruments and IAS 39 Financial Instruments: Recognition and Measurement about when a modification or exchange of financial assets results in the derecognition of the original asset.

Many Interpretations Committee members observed that, in their experience, the circumstances in which financial assets that have been modified or exchanged should be derecognised is an issue that arises in practice. However, the Interpretations Committee noted that, because of the broad nature of the issue, it could not be resolved through an Interpretation and instead would require an amendment to the Standards. Consequently, the Interpretations Committee [decided] not to progress further consideration of such a project at this time.


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