14RU-001 New hedging standard available for adoption in Australia

14RU-001 New hedging standard available for adoption

This Reporting Update announces the approval by the AASB of the new hedging rules contained in IFRS 9 (2013) Financial Instruments.


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On 20 December 2013, the Australian Accounting Standards Board approved Amending Standard AASB 2013-9 Amendments to Australian Accounting Standards – Conceptual Framework, Materiality and Financial Instruments.

This amending standard includes the new hedging requirements contained in IFRS 9 Financial Instruments (2013) issued by the International Accounting Standards Board in November 2013.

Key insights

  • New hedging rules approved by AASB in December 2013.
  • AASB 9 (2013) Financial Instruments is now available for early adoption.
  • Mandatory application date for years commencing on or after 1 January 2017.

Australian Reporting Updates

Reporting Updates are KPMG's way of communicating changes occurring within the Australian financial reporting environment to our clients.

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Financial Reporting & Accounting Standards

Financial Reporting & Accounting Standards

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