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    IASB Seeks Post-Implementation Feedback on IFRS 9 Requirements

    September 30, 2021

    The International Accounting Standards Board (IASB) is requesting feedback as part of the post-implementation review of the classification and measurement requirements (along with the related disclosures) in the financial instruments standard IFRS 9. IASB will consider all written comments received by January 28, 2022. Later, IASB will seek feedback separately on the impairment requirements and hedge accounting requirements, when more information is available about the effects of the application of those sections.

    IASB issued the completed version of IFRS 9 in 2014, combining the classification and measurement as well as the impairment and hedge accounting phases of its project to replace and improve on the IAS 39 standard on recognition and measurement of financial instruments. IFRS 9 specifies how a company is required to classify and measure financial assets and financial liabilities as well as some contracts to buy or sell non-financial items. IFRS 9 has been in effect since 2018. IASB undertakes a post-implementation review of each new IFRS standard or major amendment to a standard after companies have applied it for at least two years. These reviews offer IASB the opportunity to assess the effect of the new requirements on companies, investors, auditors, and regulators. After analyzing feedback from these reviews, IASB will decide whether to take any further actions. The actions can include providing educational materials or doing more research for possible standard-setting. At the end of this analysis, IASB will summarize and explain its responses to the feedback.


    Comment Due Date: January 28, 2022

    Keywords: International, Banking, IFRS 9, IAS 39, Financial Instruments, IFRS 7, Post-Implementation Review, Credit Risk, Disclosures, IASB

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