The International Accounting Standards Board (IASB) published today for public comment an exposure draft of proposals to adjust the mandatory effective date of IFRS 9 Financial Instruments. The exposure draft proposes an effective date of 1 January 2015 (currently 1 January 2013) for IFRS 9.

In publishing the exposure draft, the Board noted the importance of aligning all phases of the project (both completed and ongoing) to have the same effective date.

The comment period of the exposure draft closes on 21 October 2011. The exposure draft, ED/2011/3 Amendments to IFRS 9 Financial Instruments (November 2009) andIFRS 9 Financial Instruments (October 2010): Mandatory Effective Date, is available to download by clicking here.

The proposed deferral would only change the date when IFRS 9 would be mandatory. Entities could still elect to use IFRS 9 before 2015.

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• Sonja Lardeau, Communications Manager, IFRS Foundation
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• Katherine Cancro, Assistant Technical Manager, IASB
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