IASB issues report concluding the post-implementation review of classification and measurement requirements relating to financial instruments

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Dec 21, 2022

On December 21, 2022, the International Accounting Standards Board (IASB) issued its project report and feedback statement on the Post-implementation Review (PIR) of IFRS 9 "Financial Instruments — Classification and Measurement".

The project report and feedback statement provides the IASB’s conclusions on the PIR which included the following:

  • “stakeholders have no fundamental questions about the clarity or suitability of the objectives or principles in the new requirements.
  • “in general, the requirements can be applied consistently and provide useful information to the users of financial statements. However, clarification is needed in some areas to improve the understandability of the requirements.”
  • “stakeholders encounter no unexpected costs when applying or enforcing the classification and measurement requirements of IFRS 9, nor when using or auditing information the Accounting Standard requires a company to provide.”

In addition, the IASB has identified two issues that will need further research. These issues are:

  • “the assessment of the contractual cash flow characteristics of financial assets with ESG-linked features.”
  • “electronic cash transfers as settlement of a financial asset or liability.”

Review the press release and report on the IASB's website.

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