BDO releases IFRB 2023/08 IASB issues amendments to IAS 21 – Lack of Exchangeability

BDO has released IFRB 2023/08 IASB issues amendments to IAS 21 – Lack of Exchangeability.

The IASB recently issued Lack of Exchangeability which amended IAS 21 The Effects of Changes in Foreign Exchange Rates. The amendments introduce requirements to assess when a currency is exchangeable into another currency and when it is not. The amendments require an entity to estimate the spot exchange rate when it concludes that a currency is not exchangeable into another currency.

BDO’s IFR Bulletin 2023/08 provides a summary of the effects of the amendments.

The publication may be accessed here.