The IASB met on November 13, 2023, to discuss feedback on the Exposure Draft Amendments to the Classification and Measurement of Financial Instruments, which proposed amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures.

The IASB tentatively decided to finalize the proposed amendments in the Exposure Draft, subject to deleting the reference to ‘settlement date accounting’ in the Exposure Draft and replacing it with ‘settlement date’ and an explanation that ‘settlement date’ refers to the date on which the right to receive or obligation to pay cash (or another financial asset) is established or extinguished; and aligning the requirements in paragraphs B3.3.8(a) and B3.3.8(b) of the Exposure Draft so that both refer to ‘practical ability’.

The IASB tentatively decided to finalize the proposed amendments in the Exposure Draft, subject to amending the introductory sentence in paragraph 11A of IFRS 7 to require an entity to apply the disclosure requirement in that paragraph per class of equity investment; and including in paragraph 11B of IFRS 7 a disclosure requirement similar to that in paragraph 11A(e) of IFRS 7.  

Review the IASB Update and podcast on the Board's Web site.