Regulatory Alerts2017-10-04 | 29588International Financial Reporting Standard 9 for Financial Instruments (IFRS 9)
The International Accounting Standards Board issued International Financial Reporting Standard 9 to replace IAS 39 and establish a new framework for the classification and measurement of financial instruments. The standard introduces a single, principle-based impairment model that requires entities to recognize expected credit losses immediately upon initial recognition rather than waiting for a credit event to occur. It also simplifies hedge accounting by aligning it more closely with an entity's risk management activities and providing clearer guidance on derecognition and classification criteria.
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