The International Accounting Standards Board (Board) is requesting feedback as part of the post-implementation review of the classification and measurement requirements in its financial instruments Standard, IFRS 9.

The Board issued the completed version of IFRS 9 Financial Instruments in 2014 combining the classification and measurement, impairment and hedge accounting phases of its project to replace and improve on IAS 39 Financial Instruments: Recognition and Measurement.

IFRS 9 specifies how a company is required to classify and measure financial assets and financial liabilities as well as some contracts to buy or sell non-financial items. IFRS 9 has been in effect since 2018.

The Request for Information, published today, seeks information on the classification and measurement requirements in IFRS 9 and related disclosures. Reviews of the Standard’s impairment and hedge accounting requirements will follow later.

The Board undertakes a post-implementation review of each new IFRS Standard or major amendment to a Standard after companies have applied it for at least two years. These reviews offer the Board the opportunity to assess the effect of the new requirements on companies, investors, auditors and regulators.

After analysing feedback from these reviews, the Board will decide whether to take any further actions. These actions can include providing educational materials or doing more research for possible standard-setting. At the end of its analysis, the Board summarises and explains its responses to the feedback.

Andreas Barckow, Chair of the IASB, said:

The rationale for IFRS 9 was to enhance the accounting and reporting on financial assets and liabilities to provide investors with better information. This post-implementation review is a reflective exercise for us to understand whether the objectives of the Standard have been met. I would like to call on our stakeholders around the world to participate in this evaluation.

Access the Request for Information Post-implementation Review of IFRS 9―Classification and Measurement, which is open for comment until 28 January 2022.

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Standards development
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IFRS 9 Financial Instruments
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