Global

Details

  • Service: Audit, IFRS
  • Type: Business and industry issue
  • Date: 7/24/2014

Financial instruments – fundamental changes call for careful planning 

Implementation efforts for IFRS 9 Financial Instruments can finally begin in earnest now that the IASB has issued its completed standard. After long debate about this complex area, the standard’s release substantially completes a project launched in 2008 in response to the financial crisis.

The new standard includes revised guidance on the classification and measurement of financial assets, including a new expected credit loss model for calculating impairment, and supplements the new general hedge accounting requirements published in 2013.


Companies – especially in the financial sector – will need to start assessing the possible impacts, and begin planning for transition, to understand the time, resources and changes to systems and processes that are needed.


Read our In the Headlines to understand what the new standard means your business.

Financial instruments – the complete standard (2014/13)

The complete standard (2014/13)
Implementation efforts for IFRS 9 Financial Instruments can finally begin in earnest now that the IASB has issued its completed standard.

© 2014 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 8 Salisbury Square, London, EC4Y 8BB

 

Share this

Share this

IFRS Hot Topics

IFRS topics
Learn about the latest IFRS developments in insurance, leases, revenue, financial instruments and banking.