Our Financial Reporting Expert Group contributed to the QCA's Response to the FRC's consultation FRED 51 Draft Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Hedge Accounting. We agree with the three hedge accounting models proposed, but believe that the language used should be clearer and more guidance should be provided by the FRC. We suggest addressing the issue of hedging by reducing the number of financial instruments that are required to be carried at fair value, and adopting a general approach that hedging instruments should be accounted for in the same manner as the items being hedged.
QCA Response to the FRC's consultation FRED 51 Draft Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Hedge Accounting
Our Financial Reporting Expert Group contributed to the QCA's Response to the FRC's consultation FRED 51 Draft Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Hedge Accounting.
