Technical Update – Accounting

New Hedge Accounting Rules Arrive – Finally!!

The IASB published the long-awaited standard on hedge accounting in November. The changes have been widely accepted by preparers as an improvement. The new guidance provides relief from the ‘rules-based’ approach in IAS 39 and is likely to allow hedge accounting in more circumstances. It is expected that most corporates will adopt IFRS 9 to take advantage of the positive changes it introduces.

In general, IFRS 9 is good news, and its adoption will result ...

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IGTA Meeting – Sept 2013

The International Group of Treasury Associations Concludes Its 2013 Meeting 

27th September 2013 – Washington, DC, USA

Focus on Harmonization of Worldwide Financial Regulations

Keynote Speech by U.S. Commodity Futures Trading Commission Chairman Gary Gensler

The International Group of Treasury Associations (IGTA: www.IGTA.org) concluded its 2013 meeting in Washington following an address by The Honorable Gary Gensler, Chairman of the U.S. Commodity Futures Trading Commission to the group on Friday morning September 27.

The focus of the meeting was on ...

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IACT – Technical Briefing – Legal – EMIR Obligations applicable from 15 March 2013

As many IACT members will be aware, some initial obligations under the European Market Implementation Regulation (EMIR) commence with effect from Friday, 15 March 2013.  We attach a briefing note highlighting some of the key implementation dates relevant to non-financial counterparties.

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The Association of Corporate Treasurers in the UK has also prepared a more general EMIR briefing note and a webinar.  These can be accessed from the ACT website on the following link:
http://www.treasurers.org/derivativeregulation

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IACT response to ESMA consultation on EMIR technical standards

The Irish Association of Corporate Treasurers (IACT) appreciates the opportunity to comment on the ESMA “Draft Technical Standards for the Regulation on OTC Derivatives, CCPs and Trade Repositories”.

The IACT supports the overall aim of the technical standards being the reduction of  risk through the use of sound and resilient practices and appropriate risk mitigation techniques. However, we are concerned that there are a number of aspects of the proposals which, if applied in the context of a non financial counterparty ...

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