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Final stage

On 12 December 2013, the International Accounting Standards Board issued Annual Improvements to IFRSs 2011–2013 Cycle. The amendments have an effective date of 1 July 2014.


Paragraph 52 of IFRS 13 includes a scope exception for measuring the fair value of a group of financial assets and financial liabilities on a net basis. This is referred to as the portfolio exception. The objective of this amendment is to clarify that the portfolio exception applies to all contracts within the scope of IAS 39 Financial Instruments: Recognition and Measurement or IFRS 9 Financial Instruments, regardless of whether they meet the definitions of financial assets or financial liabilities as defined in IAS 32 Financial Instruments: Presentation.

Related IFRS Standards

IFRS 13 Fair Value Measurement