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About the Financial Instruments Working Group

The Financial Instruments Working Group helped the International Accounting Standards Board (the Board) to take a fresh look at the accounting standard IAS 39 Financial Instruments: Recognition and Measurement by examining and questioning the fundamentals of the Standard within the context of the Board's Framework.

The review therefore focused on improving, simplifying and ultimately replacing IAS 39, and examined broader questions on the application and extent of fair value accounting, a topic on which the Board had not reached any conclusion.

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