IFRIC 16 clarifies three main issues related to hedges of a net investment in a foreign operation:
In July 2008 the International Accounting Standards Board issued IFRIC 16 Hedges of a Net Investment in a Foreign Operation. It was developed by the Interpretations Committee.
Other Standards have made minor consequential amendments to IFRIC 16. They include IFRS 11 Joint Arrangements (issued May 2011), IFRS 9 Financial Instruments (Hedge Accounting and amendments to IFRS 9, IFRS 7 and IAS 39) (issued November 2013) and IFRS 9 Financial Instruments (issued July 2014).