IASB publishes statement on IFRS 9 and COVID-19
Mar 27, 2020
On March 27, 2020, the International Accounting Standards Board (IASB) published a document responding to questions regarding the application of IFRS 9, "Financial Instruments" during the period of enhanced economic uncertainty arising from the COVID-19 pandemic.
The document is intended to support the consistent application of requirements in IFRS Standards. Therefore, it highlights requirements within IFRS 9, Financial Instruments that are relevant for companies considering how the pandemic affects their accounting for expected credit losses; it does not change, remove nor add to, the requirements of IFRS 9.
Review the press release and document on the IASB's website.