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Recent amendments to CICA 3862, Financial Instruments – Disclosures

In March 2009, the International Accounting Standards Board issued amendments to IFRS 7, Financial Instruments: Disclosures to improve disclosures about fair value and liquidity risk. The Canadian Accounting Standards Board announced in its March 25-26 Decision Summary that it will adopt the amendments into Canadian generally accepted accounting principles Section 3862, Financial Instruments – Disclosures.

The new disclosures required by Section 3862 intend to provide users with additional information about how an entity determines fair values and how much of those fair values are derived through estimation rather than objective evidence. Download this publication to find example disclosures that address the new classification disclosure requirements imposed by the amendments to Section 3862.