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The International Accounting Standards Board (IASB) began the Post-implementation Review of the IFRS 9 Financial Instruments impairment requirements in the second half of 2022.

In May 2023, the IASB published the Request for Information Post-Implementation Review of IFRS 9 Financial Instruments—Impairment to seek stakeholders’ views on the impairment requirements in IFRS 9 and the related disclosures. The comment period closed on 27 September 2023.

In November 2023, the IASB started its discussions of the feedback on the Request for Information and discussed the plan for the next phase of the project.

IASB® Update April 2024

The IASB met on 24 April 2024 to discuss feedback on matters relating to the application of the impairment requirements in IFRS 9 Financial Instruments. In particular, the IASB discussed how an entity applies the impairment requirements:

  1. to loan commitments and financial guarantee contracts;
  2. to purchased or originated credit-impaired financial assets; 
  3. with other requirements in IFRS 9 such as those relating to modification, derecognition or write-off of financial assets; and
  4. with requirements in other IFRS Accounting Standards, including IFRS 15 Revenue from Contracts with Customers (see also Agenda Paper 6A).

The IASB tentatively decided:

  1. to classify as low priority the matters relating to financial guarantee contracts and to consider these matters during the next agenda consultation.
  2. to take no additional action on the matters that arise from applying the impairment requirements in IFRS 9 with other requirements in that Standard—namely, the requirements for modification, derecognition and write-off of financial assets. The IASB had already decided to consider these matters as part of its pipeline project on Amortised Cost Measurement.
  3. to take no further action on the other matters discussed.

All 14 IASB members agreed with these decisions. 

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