BDO releases IFRB 2023/08 IASB issues amendments to IAS 21 – Lack of Exchangeability
BDO releases IFRB 2023/08 IASB issues amendments to IAS 21 – Lack of Exchangeability
BDO has released IFRB 2023/08 IASB issues amendments to IAS 21 – Lack of Exchangeability.
The IASB recently issued Lack of Exchangeability which amended IAS 21 The Effects of Changes in Foreign Exchange Rates. The amendments introduce requirements to assess when a currency is exchangeable into another currency and when it is not. The amendments require an entity to estimate the spot exchange rate when it concludes that a currency is not exchangeable into another currency.
BDO’s IFR Bulletin 2023/08 provides a summary of the effects of the amendments.
The IFR Bulletin may be accessed here.
The IASB recently issued Lack of Exchangeability which amended IAS 21 The Effects of Changes in Foreign Exchange Rates. The amendments introduce requirements to assess when a currency is exchangeable into another currency and when it is not. The amendments require an entity to estimate the spot exchange rate when it concludes that a currency is not exchangeable into another currency.
BDO’s IFR Bulletin 2023/08 provides a summary of the effects of the amendments.
The IFR Bulletin may be accessed here.