Hedge Accounting: An Auditor’s Perspective
Radical changes have been introduced in the hedge accounting framework by the new IFRS accounting standards. In particular, the hedge effectiveness regime has been completely overhauled and replaced by a strong principles-based charter. The relevance of qualitative assessment procedures has, ac...
| Format: | Article |
|---|---|
| Language: | English |
| Published: |
Chamber of Financial Auditors of Romania
2019-02-01
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| Series: | Audit Financiar |
| Subjects: | |
| Online Access: |
http://revista.cafr.ro/temp/Article_9603.pdf
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| _version_ | 1819144603505262592 |
|---|---|
| collection | DOAJ |
| description | Radical changes have been introduced in the hedge
accounting framework by the new IFRS accounting
standards. In particular, the hedge effectiveness regime
has been completely overhauled and replaced by a
strong principles-based charter. The relevance of
qualitative assessment procedures has, accordingly,
increased making the audit of such assignments
immensely challenging. Pronouncements from
regulatory bodies providing professional guidance on
audit issues of hedge accounting and effectiveness
testing have failed to keep pace with this rapid transition,
enhancing the complexity of such audit exercises. In the
present article, after providing a brief analysis of the
contemporary hedge accounting and effectiveness
testing provisions, we dwell upon the salient issues
connected with the auditor’s predicament and highlight
the way forward in the changed environment. |
| first_indexed | 2024-12-22T12:44:46Z |
| format | Article |
| id | doaj.art-4efa10ef892c44528e0fb3ea4d4a2c0e |
| institution | Directory Open Access Journal |
| issn | 1844-8801 |
| language | English |
| last_indexed | 2024-12-22T12:44:46Z |
| publishDate | 2019-02-01 |
| publisher | Chamber of Financial Auditors of Romania |
| record_format | Article |
| series | Audit Financiar |
| spelling | doaj.art-4efa10ef892c44528e0fb3ea4d4a2c0e2022-12-21T18:25:20ZengChamber of Financial Auditors of RomaniaAudit Financiar1844-88012019-02-011715310611310.20869/AUDITF/2019/153/1069603Hedge Accounting: An Auditor’s PerspectiveRadical changes have been introduced in the hedge accounting framework by the new IFRS accounting standards. In particular, the hedge effectiveness regime has been completely overhauled and replaced by a strong principles-based charter. The relevance of qualitative assessment procedures has, accordingly, increased making the audit of such assignments immensely challenging. Pronouncements from regulatory bodies providing professional guidance on audit issues of hedge accounting and effectiveness testing have failed to keep pace with this rapid transition, enhancing the complexity of such audit exercises. In the present article, after providing a brief analysis of the contemporary hedge accounting and effectiveness testing provisions, we dwell upon the salient issues connected with the auditor’s predicament and highlight the way forward in the changed environment. http://revista.cafr.ro/temp/Article_9603.pdf ifrs 9audithedge accountingrisk management |
| spellingShingle | Hedge Accounting: An Auditor’s Perspective Audit Financiar ifrs 9 audit hedge accounting risk management |
| title | Hedge Accounting: An Auditor’s Perspective |
| title_full | Hedge Accounting: An Auditor’s Perspective |
| title_fullStr | Hedge Accounting: An Auditor’s Perspective |
| title_full_unstemmed | Hedge Accounting: An Auditor’s Perspective |
| title_short | Hedge Accounting: An Auditor’s Perspective |
| title_sort | hedge accounting an auditor s perspective |
| topic | ifrs 9 audit hedge accounting risk management |
| url |
http://revista.cafr.ro/temp/Article_9603.pdf
|