Asian firms 'still not ready for new hedge accounting'
Singapore
WITH less than six months to go before hedge and financial-assets accounting is overhauled worldwide - with the largest impact expected for banks and financial institutions - preparers in Asia appear to be less than ready for it.
A survey of 189 companies in 13 Asian countries by S&P Global Market Intelligence has found that less than half the companies polled have begun preparations for International Financial Reporting Standard (IFRS) 9: Financial Instruments.
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