IFRS 9 Financial Instruments: Implementation
This page provides an overview of all of the activities undertaken by the Board to support implementation of IFRS 9. It will be updated throughout the implementation phase with information relating to these activities.
IFRS 9 Financial Instruments was issued by the International Accounting Standards Board (the Board) on 24 July 2014 and has a mandatory effective date of 1 January 2018. On 22 August 2014, the Board announced the formation of a Transition Resource Group for Impairment of Financial Instruments (the ITG), to provide support on implementation issues arising on the new impairment requirements following the issue of IFRS 9.
The ITG had one introductory conference call in 2014 and three meetings during 2015. Only one issue was raised with the Board as a result of those meetings. The Board noted the issue but observed that the requirements of IFRS 9 were clear and consequently no further action was considered necessary.
Educational and implementation materials
In addition to the materials provided within IFRS 9 itself, including the Illustrative Examples, various materials that support implementation of IFRS 9 are available. These are summarised below. Throughout the implementation phase the Board will monitor implementation and will consider whether additional materials might be helpful.
Materials published alongside IFRS 9
Summaries of issues discussed at ITG meetings
Implementation: IASB Monitoring and support
No meetings of the ITG have been planned for 2016. However, the group will remain in place and stakeholders may continue to submit potential implementation issues by following the submission guidelines. Further meetings will be convened if circumstances warrant it.