The International Accounting Standards Board (IASB) has published an amendment to IFRS 9 ‘Financial Instruments’ incorporating its new general hedge accounting model. This represents a significant milestone as it completes another phase of the IASB’s project to replace IAS 39 ‘Financial Instruments: Recognition and Measurement’. The new general hedge accounting model will allow reporters to reflect risk management activities in the financial statements more closely as it provides more opportunities to apply hedge accounting.