IASB sets timetable for IAS 39 replacement

The International Accounting Standards Board (IASB) has set out a detailed six-month timetable for publishing a proposal to replace its existing financial instruments standard, IAS 39 Financial Instruments: Recognition and Measurement. The IASB also announced the results of its 30-day accelerated consultation on the Staff Positions (FSPs) on fair value measurement and impairment published recently by the US FASB. (Read the IASB Press Release.)