Accounting For Reverse Repurchase Agreements Ifrs

The new guidelines have been surprisingly supported by financial institutions. Figure 3 summarizes the responses received by the FASB following two draft opinions. The first draft of the „Reconsideration of Effective Control for Repurchase Agreements“ (November 2010) is expected to change the criteria for effective control. It resulted in comments containing proposals that were then added to the final standard („FASB Proposes New Accounting Guidelines for Rest“,“ KPMG Defining Issues, January 2013, No. 13-6). Of particular note is the massive support he gave to the proposal in 2010. The audit firm`s eight responses can be described as either favourable or qualified in favour of the proposal. Out of a total of 19 responses, 16 can be qualified as a preference or qualified preference for the proposal. .