Contracts for Renewable Electricity – Proposed amendments to IFRS 9 and IFRS 7

“The International Accounting Standards Board (IASB) today has published an Exposure Draft proposing narrow-scope amendments to ensure that financial statements more faithfully reflect the effects that renewable electricity contracts have on a company. The proposals amend IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures. The IASB’s swift action responds to the rapidly growing global market for these contracts.