With deliberations on the classification and measurement and impairment phases complete, the IASB has tentatively decided on an effective date for IFRS 9 Financial Instruments (2014) of 1 January 2018. A final standard is expected in mid-2014.
During its February meetings, the Board also continued its discussions on the unit of account for fair value measurement, focusing on transition. It decided that the amendments for quoted investments would be initially applied by adjusting the opening retained earnings in the period of adoption. An exposure draft is expected in the second quarter of 2014.