When is FAS-133 going to be replaced?
There are props on the table about this Rod but in any event, ‘fair value’ should be part of where it’s at anyway according to a 1969 US tax case. CFO.com has a number of recent articles around this topic. Here’s the most recent This site is worth a read on the topic Risk in Australia (it’s relevant – trust me) My sense is that FAS-133 will wither much like IR39 has pretty much vanished up the swanny over here in EU as they try and figure out the component parts. I warned IASB about the near impossibility of arriving at ‘fair value’ in hedges baqck in 2004 without creating a sea of uncertainty.
