Financial Instruments Working Group to Meet 5 August

The IASB Financial Instruments Working Group (FIWG) will meet at the IASB's offices in London on 5 August 2011 from 13:00am to 16:00pm London time. The meeting will be open to public observation and will be webcast. An agenda for the meeting has not yet been announced.

The IASB formed the FIWG in September 2004 to examine and question the fundamentals of IAS 39 within the context of the IASB's Framework, with the goal of "improving, simplifying, and ultimately replacing IAS 39" but it has not met since the beginning of December 2009 which is shortly after IFRS 9 was first published. That means the members of the FIWG only met to discuss phase I of the IASB's project for replacing IAS 39 (classification and measurement of financial assets), however, there has been no working group meeting so far during the phases II to IV.