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Final stage

On 5 March 2009, the International Accounting Standards Board issued Improving Disclosures about Financial Instruments (Amendments to IFRS 7 Financial Instruments: Disclosures). The amendments have an effective date of 1 January 2009.


The amendments were issued as part of the IASB's response to the global financial crisis. Find out more about the IASB's response to the global financial crisis, including correspondence with the G20.

The IASB was informed by users of financial statements and others that enhanced disclosures about fair value measurements were required, especially in the light of the present market conditions. The IASB acknowledged that enhanced disclosures were needed to provide users of financial statements with useful information about valuations, methodologies and the uncertainty associated with fair value measurements.

Moreover, the amendments clarify and enhance existing disclosure requirements about the nature and extent of liquidity risk arising from financial instruments. These clarifications address application issues raised by preparers and auditors. Enhanced disclosure requirements result in disclosures that better enable users to evaluate an entity's exposure to liquidity risk arising from financial instruments and how the entity manages this risk.