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Limited modifications to IFRS 9

IASB Meeting Summaries and Observer Notes


 IASB December 2011


 

 

In the November 2011 meeting, the IASB tentatively decided to consider making limited modifications to IFRS 9 Financial Instruments. At this meeting the Board discussed the scope of this project.

It was confirmed that the basis for reconsidering items was for three reasons: to address specific application issues in IFRS 9, the interaction of these items with the insurance project and the US-based FASB's classification and measurement model.

At this meeting, the Board tentatively decided to consider the following topics in the scope of this project:

  • Instrument characteristics test to decide whether additional application guidance should be provided to clarify how the principle was intended to be applied
  • Bifurcation of financial assets, after considering any additional guidance provided for the instrument characteristics test
  • Expanded use of OCI or a third business model for some debt instruments

In addition, the Board tentatively decided to consider the inclusion in the educational materials being prepared for IFRS 13 Fair Value Measurement of specific guidance on how to determine the fair value of an unquoted equity instrument.

Eight board members agreed with the tentative decision.

 

 


 

Date: 12/13/2011