London (July 28, 2004) -- The International Accounting Standards Board has published proposals aimed at giving the users of financial statements better information about an entity’s exposure to risks and how those risks are managed.
The proposals are set out in an exposure draft of an International Financial Reporting Standard, ED 7 Financial Instruments: Disclosures. If adopted, the proposed IFRS would apply to all entities. However, the extent of disclosure required would depend on the extent of the entity’s use of financial instruments and of its exposure to risk.
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