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Thursday 28 August 2014

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IFRS 9 Financial Instruments (replacement of IAS 39)

Phase II: Impairment


 Financial Instruments—Phase II: Impairment

The final version of IFRS 9 Financial Instruments was published in July 2014. Impairment was the second phase of the IFRS 9 project.

The main objective of the new impairment requirements is to provide users of financial statements with more useful information about an entity’s expected credit losses on financial instruments. The model requires an entity to recognise expected credit losses at all times and to update the amount of expected credit losses recognised at each reporting date to reflect changes in the credit risk of the financial instruments.

Project stages

Board deliberations

Stage completed: November 2008

Issued documents

Stage 2: The Discussion Paper was open for comment until 19 September 2008

Feedback on Discussion Paper

Board deliberations

Issued documents

Stage 3: The Request for Information was open for comment until 1 September 2009.

Board deliberations

Issued documents

Stage 5:The Supplementary Document comment period closed on 1 April 2011
Stage 7: Completed in July 2014 with the publication of IFRS 9 Financial Instruments (2014)