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Wednesday 03 September 2014

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Accounting for Dynamic Risk Management: a Portfolio Revaluation Approach to Macro Hedging


Due process steps

Stage 2: Discussion Paper

 

Step Required/
Optional
Metrics or
evidence
Actions
DP developed in public meetings.





Or


Decision to publish an RP is made in a public meeting, with a clear statement of the extent of the IASB’s involvement.

Optional

Meetings held to discuss the topic.


Project website contains a full description with up-to-date information.

Meeting papers have been posted in a timely fashion.



Decision was supported by a paper and reported in the IASB Update.

Public board meetings held to discuss the topic.

Project website is up to date.



Papers for the IASB meetings were posted before each meeting.


No decision has been made at the IASB on this project, except for the decision at the May 2012 IASB that this project is separated from IFRS 9 Financial Instruments. A summary of each meeting was included in IASB Update.

Consultation with the IFRS Advisory Council (the ‘Advisory Council’) has occurred.

Optional

Discussions with the Advisory Council on the topic.

A specific presentation has not been provided on accounting for macro hedging but updates on the work plan including the financial instruments projects have been provided to the Advisory Council on a regular basis.

Project-specific updates are sent via email alerts to registered users.

Optional

Frequency of alerts provided.

Not done during development of the DP.

Consultative groups are established depending on the nature of issues and the level of interest among interested parties.

Optional

Argument provided for or against the use of the consultative group.

Extent of consultative group meetings that have been held.

Feedback to the consultative group has been provided.

To be determined.

Online survey to generate evidence in support of or against a particular approach.

Optional

Survey shown on the IASB website.

Number and diversity of respondents.

Analysis of the response.

Not done during development of the DP.

Outreach meetings to promote debate and hear views on the financial reporting issue that is being examined.

Optional

Schedule of the outreach meetings.

Preliminary outreach has been undertaken in the development of the DP.

Public discussions with representative groups.

Optional

Meetings held.

The project has been discussed with the ASAF in September 2013.

Regional discussion forums, where possible, with national standard-setters with the IASB.

Optional

Extent of meetings held and the venues where issues have been discussed.

Not done during development of the DP.

Podcasts to provide interested parties with high level updates or other useful information about the specific project.

Optional

Number of podcasts.

Number of participants on podcasts.

Not done during development of the DP.

Publication:
DP or RP has appropriate comment period.

Required

The IASB has set the comment period.

If outside the normal comment period, an explanation from the IASB to the DPOC has been provided, and the decision has been approved.

To be discussed at the October 2013 IASB meeting.

Press release to announce publication of the DP.

Optional

Release was announced in a timely fashion.

Media coverage of the release.

Planned.

Snapshot document to explain the rationale and basic concepts included in the DP.

Optional

Snapshot prepared at the time of the release.

Planned.

Webcast of interactive presentations streamed in real time from the IASB’s office.

Optional

Number of webcasts held.

To be considered.

The IASB determines if focused investor consultation is required to supplement the comment letters.

Required if DP issued

Staff Paper.

Planned.

Request for additional comment and suggestions by conducting fieldwork.

Optional

Meetings held.

To be considered.

Round-table meetings between external participants and members of the IASB

Optional

Number of participants in round-table meetings and venues for the round-table meetings confirmed.

To be considered.