The IASB issued amendments to IAS 21, The Effects of Changes in Foreign Exchange Rates. The changes, according to a news release, will require companies to provide more useful information in their financial statements when a currency cannot be exchanged into another currency.
"The amendments respond to stakeholder feedback and concerns about diversity in practice in accounting for a lack of exchangeability between currencies," the release said. "[They] will require companies to apply a consistent approach in assessing whether