IFRS 9 — Summary, Requirements & Changes | Deloitte CFR

About the standard

As a replacement of IAS 39, Financial Instruments: Recognition and Measurement, IFRS 9 includes requirements for recognition and measurement, impairment, derecognition and guidance for hedge accounting.

IFRS 9, as amended, introduces a logical approach for the classification of financial assets, which is driven by cash flow characteristics and the business model in which an asset is held. This single, principle-based approach replaces existing rule-based requirements that are generally considered to be overly complex and difficult to apply. The new model also results in a single impairment model being applied to all financial instruments, thereby removing a source of complexity associated with previous accounting requirements.

It also introduces a new, expected-loss impairment model that will require more timely recognition of expected credit losses. Specifically, the new standard requires entities to account for expected credit losses from when financial instruments are first recognized and to recognize full lifetime expected losses on a more timely basis.

The standard is effective for annual periods beginning on or after January 1, 2018. Earlier adoption is permitted.


Why should you use this page?

On this page, find a summary of IFRS 9, including its effective date and sample questions on how to implement IFRS 9.

Use this page to:

  • Find out how to draft your financial statements and note disclosures for IFRS 9;
  • Gain useful insights and practical examples when navigating IFRS 9 impairment requirements for trade receivables;
  • Learn how to disclose the new adoption of accounting standards in interim financial statements.

Our selection of resources will help answer some of your questions:

  • What’s included in the new standard?
  • What do I need to disclose?
  • What action items do I need to take to implement the new standard?
  • What is the effective date and transitional provisions of this standard?


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