IASB Publishes Minor Changes to IFRS 9 and Other Accounting Standards
IASB published narrow-scope amendments and annual improvements to several standards, including IFRS 9 and IFRS 16. The amendment to IFRS 9, the Financial Instruments standard, is part of the Annual Improvements to IFRS Standards 2018–2020. The amendment to IFRS 9 clarifies that the fees a company includes when assessing whether the terms of a new or modified financial liability are substantially different from the terms of the original financial liability. All amendments become effective from January 01, 2022.
Effective Date: January 01, 2022
Keywords: International, Banking, IFRS 9, Financial Instruments, IFRS 16, Leases, IASB
Scott is a Director in the Regulatory and Accounting Solutions team responsible for providing accounting expertise across solutions, products, and services offered by Moody’s Analytics in the US. He has over 15 years of experience leading auditing, consulting and accounting policy initiatives for financial institutions.
CECL adoption expert; engagement manager for loss estimation, internal risk capability enhancement, and counterparty credit risk management
CECL, IFRS 9, and IFRS 17 expert; credit risk and insurance risk specialist; strategic planning and credit analytics solutions consultant
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