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IFRS 9: Financial Instruments

IASB meeting summaries and observer notes


 IASB 7 November 2011


 

 

At this meeting, the IASB tentatively decided that IFRS 9 (2009) and IFRS 9 (2010) should be amended to require application for annual periods beginning on or after 1 January 2015, rather than 1 January 2013. The Board also tentatively decided not to require the restatement of comparative-period financial statements for the initial application of the classification and measurement requirements of IFRS 9, but instead to require modified disclosures on transition from the classification and measurement requirements of IAS 39 to those of IFRS 9. The Board also tentatively decided that this disclosure would be required even if an entity chose to restate its comparatives for the effect of applying IFRS 9. Early application of IFRS 9 (2009) and IFRS 9 (2010) would continue to be permitted.

Ten Board members supported these decisions, with one member disagreeing.

Date: 11/7/2011