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Financial Instruments 

Changes to the accounting for financial instruments could affect almost all reporting entities.

Since November 2008, the IASB has been working to replace its financial instruments standard (IAS 39) with an improved and simplified standard. 

      Financial Instruments Milestones

     

     

    Currently, IFRS 9 is effective for annual periods beginning on or after 1 January 2015. However, in July 2013 the IASB tentatively decided to defer the effective date of IFRS 9 to an unspecified date pending the finalization of the impairment and classification and measurement phases. In addition, in April 2013 the IASB decided to make application of the new general hedging model optional until the completion of the macro hedging project.

    IFRS insights on financial instruments

    Classification of financial assets and liabilities under IFRS 9 IFRS for investment funds:
    Classification of financial assets and liabilities under IFRS 9

    Our series of IFRS for Investment Funds publications addresses practical application issues that investment funds may encounter when applying IFRS.

    New on the Horizon: Classification and measurement

    New on the Horizon: Classification and measurement

    This New on the Horizon looks at the proposed limited amendments to IFRS 9 Financial Instruments (2010) on classification and measurement.

    New on the Horizon: Financial instruments - Expected credit losses

    New on the Horizon: Financial instruments - Expected credit losses

    The IASB's revised proposals are a step change in accounting for impairment, with big impacts likely for banks and similar financial institutions.

    Derivative Novations (2013/13)

    Derivative Novations (2013/13)

    The IASB provides relief from discontinuing an existing hedging relationship when a novation meets specific criteria.

    New on the Horizon: Hedge accounting

    New on the Horizon: Hedge accounting

    Considers the proposed requirements of the draft of IFRS 9: Financial Instruments (the staff draft) relating to the general hedge accounting model.

    Line of business insights - investment funds

    Classification of financial assets and liabilities under IFRS 9 IFRS for investment funds:
    Classification of financial assets and liabilities under IFRS 9

    Our series of IFRS for Investment Funds publications addresses practical application issues that investment funds may encounter when applying IFRS.

    Please contact your KPMG Accounting Advisory Services adviser for more information.

    Sylvie Monette

    Sylvie Monette

    Partner, Advisory Services

    514-840-2687

    Mahesh Narayanasami

    Mahesh Narayanasami

    Partner, Advisory Services, KPMG Canada

    416-777-8567

    Banking & Finance

    We can help organizations succeed and address their business challenges in all segments of banking and finance.
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