Global Standards for the world economy

Thursday 27 April 2017

Banner graphic

IASB advisory bodies

IFRS Transition Resource Group for Impairment of Financial Instruments (ITG)

IFRS Transition Resource Group for Impairment of Financial Instruments (ITG)

23 June 2014

Call for Nominations


The International Accounting Standards Board (IASB) is seeking suitable candidates for membership of an IFRS Transition Resource Group for Impairment of Financial Instruments (ITG).

The IASB expects to issue the completed IFRS 9 Financial Instruments in 2014, which will incorporate the new requirements for impairment of financial instruments.

The new expected credit loss model for impairment of financial instruments represents a fundamental change to current practice and will therefore have significant implications from an implementation as well as a systems perspective, particularly in the financial services sector. In view of the magnitude of the change, the IASB believes that having a discussion forum, such as the ITG, to provide support for stakeholders post publication will enhance robust and consistent implementation. Consequently, the IASB is looking for nominations from auditors, preparers and related groups to participate in the above group.

The ITG will discuss questions from stakeholders about the new impairment requirements. Overall, the purpose of the ITG is to:

  • solicit, analyse and discuss stakeholder issues arising from implementation of the new impairment requirements;
  • inform the IASB about those implementation issues, which will help the IASB determine what, if any, action will be needed to address those issues; and
  • provide a public forum for stakeholders to learn about the new impairment requirements from others involved with implementation.

Terms of reference

The aim of the ITG is to provide a discussion forum to provide support for stakeholders on implementation issues arising on the new impairment requirements following the issue of IFRS 9 (2014). Hence we expect the ITG to have a limited life during the transition period to the new requirements.

Issues discussed by the group should meet the following criteria: 

  • the question is a potential implementation issue related to the impairment requirements of IFRS 9 (2014);
  • the issue indicates that the new impairment requirements may be applied in different ways resulting in possible diversity in practice; and 
  • the potential implementation issue is expected to be pervasive, ie relevant to a wide group of stakeholders.

The group will not discuss questions about how to measure expected credit losses nor issue any guidance.

During meetings, ITG members will share their views on the issues.  The IASB will determine what action, if any, will be taken on each issue.
Criteria for membership

To meet the ITG’s objectives, candidates should be capable of making a positive contribution to the ITG by having expertise, skills or practical knowledge relating to expected credit loss model for impairment, as well as knowledge about accounting for financial instruments under IFRS.  They should also have an open-mind to different perspectives and an ability to participate in a free exchange of ideas. 

Candidates should explain how they meet these requirements.

The IASB is looking for candidates from a broad spread of geographical areas. Candidates are expected to speak English fluently (the language used for the ITG meetings).  Because the ITG meetings will focus on implementation issues, the candidate profile is tailored towards preparers, auditors and related groups.  The IASB expects to receive more applications than the size of the ITG and, therefore, it cannot guarantee that every applicant will be invited to join the group


The deadline for applications for membership of the ITG is Monday 14 July 2014. If you wish to send an application, please email your CV and a brief description of how you meet the criteria to Fiona Dunne at:

For more information, potential candidates should contact:
Hannah King, Practice Fellow,; or
Jana Streckenbach, Senior Technical Manager,

Please click here for more details on the ITG.