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.
Banking Sector , Insurance Sector International Financial Reporting Standard 9 for Financial Instruments (IFRS 9) Share
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