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Final stage
On 12 March 2009, the International Accounting Standards Board issued Embedded Derivatives (Amendments to IFRIC 9 and IAS 39). The amendments have an effective date of 30 June 2009.
The scope of the project was to prevent any diversity in practice developing as a result of the amendments made to IAS 39 in October 2008, which permit the reclassification of particular financial assets. The amendments clarify that on reclassification of a financial asset out of the 'at fair value through profit or loss' category all embedded derivatives have to be assessed and, if necessary, separately accounted for in financial statements.
