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  • Service: Audit, IFRS
  • Date: 7/31/2013

IASB to defer mandatory effective date for new financial instruments standard 

The mandatory effective date of 1 January 2015 was intended to apply to all phases of IFRS 9, but the IASB has made slower than expected progress towards finalising the standard. Therefore, in response to constituent feedback, the IASB has not only tentatively decided to defer the mandatory effective date of IFRS 9 but also to allow early application of the ‘own credit’ requirements in isolation.

Progress on both the classification and measurement and impairment phases continues, with the IASB’s redeliberations on the classification and measurement proposals, including those that it plans to undertake with the FASB, expected to be substantially complete by the end of 2013. A roadmap for the impairment phase is expected to be presented at the September meeting together with a more detailed analysis of feedback received.

 

The second half of 2013 should also see the release of the new general hedging model as well as a discussion paper on macro hedging.

 

Read our IFRS Newsletter: Financial Instruments to find out what these issues could mean for your business.

IFRS Newsletter: Financial Instruments - issue 14, July 2013

Feature image
This IFRS Newsletter looks at the IASB's recent decision to defer the mandatory effective date for the new financial instruments standard.

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