This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IFRS Taxonomy Update—Interest Rate Benchmark Reform Part I (Amendments to IFRS 9, IAS 39 and IFRS 7) [Completed]

Effective date:

The amend­ments ap­ply to an­nual pe­ri­ods be­gin­ning on or af­ter Jan­u­ary 1, 2020. Ear­lier ap­pli­ca­tion of the amend­ments, and there­fore ear­lier use of the IFRS Tax­on­omy el­e­ments, is per­mit­ted.

Last updated:

March 2020

Overview

The International Accounting Standards Board (IASB) plans to make changes to the IFRS Taxonomy to reflect the disclosure requirements introduced by Interest Rate Benchmark Reform – Part I (Amendments to IFRS 9, Financial Instruments, IAS 39, Financial Instruments: Recognition and Measurement and IFRS 7, Financial Instruments: Disclosures).

On March 16, 2020, the IASB issued the IFRS Taxonomy Update 2019 – Interest Rate Benchmark Reform (Amendments to IFRS 9, IAS 39 and IFRS 7). The amendments apply to annual periods beginning on or after January 1, 2020. Earlier application of the amendments, and therefore earlier use of the IFRS Taxonomy elements, is permitted.  

 

Other developments

March 2020

On March 16, 2020, the IASB issued the IFRS Taxonomy Update 2019 – Interest Rate Benchmark Reform (Amendments to IFRS 9, IAS 39 and IFRS 7).

January 2020

On January 31, 2020, the IASB staff updated the Work Plan to indicate that the IASB expects to issue the Taxonomy Update in March 2020.

October 2019

On October 25, 2019, the IASB® staff updated the work plan to indicate that the Board expects to review the Exposure Draft feedback after the comment period ends in December 2019.

On October 14, 2019, the IFRS Foundation published IFRS Taxonomy 2019 — Interest Rate Benchmark Reform (Amendments to IFRS 9, IAS 39 and IFRS 7). Comments are requested by December 13, 2019.

On October 1, 2019, the IASB® staff updated the work plan to indicate that the Board expects to issue a proposed IFRS Taxonomy Update in October 2019.

 

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.