IFRS 9 Financial Instruments was issued by the Board on 24 July 2014 and has a mandatory effective date of 1 January 2018.
The Board is currently undertaking a number of activities to support implementation of the Standard. You can find information about all of these activities by following the links below. This include all of the educational material that has been prepared since the Standard was issued and information about the activities of the Transition Resource Group. In addition, all of the finalised Agenda Decisions of the IFRS Interpretations Committee that relate to this Standard can be found by expanding the link below.
Throughout the implementation phase, the Board will monitor implementation and will consider whether additional materials might be helpful. This page will be regularly updated with information relating to these activities.
Transition Resource Group
On 22 August 2014, the Board announced the formation of the Transition Resource Group for Impairment of Financial Instruments (ITG), to provide support on implementation issues arising on the new impairment requirements following the issue of IFRS 9. The ITG had one introductory 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.
IFRS Interpretations Committee
The IFRS Interpretations Committee has previously considered a number of relevant issues that have been submitted by stakeholders.
When the Committee rejects an issue, it publishes an Agenda Decision explaining the reasons. In many cases, Agenda Decisions include information to help those applying the relevant Standards. For example, if the Committee concludes that IFRS Standards already contain sufficient material to determine the correct accounting, the Agenda Decision might highlight the relevant paragraphs.
No meetings of the ITG have been planned for 2018. 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.