IFRS 9 resources

Financial instruments continue to form part of the Financial Reporting Council's (FRC's) top-ten areas of challenge as evidenced in its Annual Review of Corporate Reporting 2022/23.  

Similar to the prior year, the FRC raised questions about expected credit loss (ECL) provisions, with most queries relating to smaller financial institutions. Other challenges related to unclear accounting treatment and policies and the basis on which cash and overdraft balances were offset.

For their forthcoming reporting the FRC expects companies to ensure that:

  • the nature and extent of material risks arising from financial instruments (including inflation and rising interest rates) and related risk management are adequately disclosed, including:
    • the methods used to measure exposure to risks and any changes from the previous period.
    • any hedging arrangements put in place to fix interest rates or hedge against the effects of inflation.
  • the approach and significant assumptions applied in the measurement of ECL, and concentrations of risks, where material, are disclosed.
  • in making ECL assessments, historical default rates are reviewed and adjusted for forecast future economic conditions.
  • accounting policies are provided for all material financing (including factoring and reverse factoring) and hedging arrangements, and any changes in the arrangements.
  • the effect of refinancing and changes to covenant arrangements is explained.
  • cash and overdraft balances have been offset only when the qualifying criteria have been met. 
  • information about banking covenants is provided unless the likelihood of any breach is considered remote.

This page includes a comprehensive collection of all of our resources on IFRS 9.  It includes links to:

IFRS 9 resources

EFRAG endorsement status report 9 September 2022

09 Sep, 2022

The endorsement status report has been updated to reflect that European Union has endorsed the amendments to IFRS 17 'Initial Application of IFRS 17 and IFRS 9 — Comparative Information'.

European Union formally adopts amendments to IFRS 17

09 Sep, 2022

The European Union has published a Commission Regulation endorsing 'Initial Application of IFRS 17 and IFRS 9 — Comparative Information (Amendment to IFRS 17)' issued by the IASB in December 2021.

Government consults on the future of the statutory override of the requirements of IFRS 9 for local authorities

18 Aug, 2022

The government is consulting on the future of a statutory override which was introduced in 2018 to mitigate the effects of International Financial Reporting Standard (IFRS) 9 'Financial Instruments' on local authority accounting.

We comment on four IFRS Interpretations Committee tentative agenda decisions

25 May, 2022

We have published our comment letters on IFRS Interpretations Committee tentative agenda decisions related to IFRS 9/IFRS 16, IFRS 17 and IAS 32, as published in the March 2022 'IFRIC Update'.

Deloitte comment letter on tentative agenda decision on lessor forgiveness of lease payments

24 May, 2022

We agree with the IFRS Interpretations Committee’s decision not to add this item onto its agenda. However, we have concerns that the analysis presented in the tentative agenda decision may have unintended consequences in a number of areas and suggest that further analysis may be warranted before the tentative agenda decision is finalised.

ESMA publishes 26th enforcement decisions report

17 May, 2022

The European Securities and Markets Authority (ESMA) has published further extracts from its confidential database of enforcement decisions taken by European national enforcers. This batch deals with decisions in relation to IFRS 9, IAS 2 (two decisions), IFRS 15 (three decisions), IFRS 16/IAS 36, IAS 36 (two decisions), IFRS 8 and IAS 7/IAS 8.

UK Endorsement Board adopts IFRS 17

17 May, 2022

The UK Endorsement Board (UKEB) has approved the adoption of International Financial Reporting Standard (IFRS 17) 'Insurance Contracts' for use by UK companies.

EFRAG endorsement status report 2 May 2022

02 May, 2022

The endorsement status report has been updated to reflect the positive ARC vote on 'Initial Application of IFRS 17 and IFRS 9 — Comparative Information (Amendment to IFRS 17)' issued on 9 December 2021.

UKEB adopts May 2020 amendments to IFRS Accounting Standards

13 Apr, 2022

The UK Endorsement Board (UKEB) has adopted the International Accounting Standard Board’s (IASB's) May 2020 Amendments, its first adoption decision since the delegation of powers in May 2021.

EFRAG publishes a feedback statement on the post-implementation review of IFRS 9

22 Feb, 2022

The European Financial Reporting Advisory Group (EFRAG) has published its feedback statement on the International Accounting Standard Board’s (IASB's) request for information (RFI) as a part of the Post-implementation Review ('PIR') of the classification and measurement requirements of IFRS 9 'Financial Instruments'.

UKEB final comment letter on the IASB's RFI on its Post-implementation Review of IFRS 9

12 Feb, 2022

The UK Endorsement Board (UKEB) has published its final comment letter and feedback statement in response to the International Accounting Standard Board’s (IASB's) Request for Information (RFI) on its Post-implementation Review of IFRS 9 'Financial Instruments - Classification and Measurement'.

EFRAG issues final endorsement advise on narrow-scope amendment to IFRS 17

02 Feb, 2022

The European Financial Reporting Advisory Group (EFRAG) has issued its final endorsement advice letter relating to the use in the European Union (EU) and European Economic Area of ‘Initial Application of IFRS 17 and IFRS 9 – Comparative Information (Amendment to IFRS 17)’ (the Amendment).

EFRAG endorsement status report 1 February 2022

01 Feb, 2022

The endorsement status report has been updated to reflect that EFRAG has published final endorsement advice on 'Initial Application of IFRS 17 and IFRS 9 — Comparative Information (Amendment to IFRS 17)'. The report also reflects positive ARC votes on two amendments.

EFRAG final comment letter on the request for information on the post-implementation review of IFRS 9

31 Jan, 2022

​​The European Financial Reporting Advisory Group (EFRAG) has published its Final Comment Letter in response to the International Accounting Standard Board’s (IASB's) request for information as a part of the Post-implementation Review ('PIR') of the classification and measurement requirements of IFRS 9 'Financial Instruments'.

Deloitte comments on IASB’s Request for Information on the post-implementation review of IFRS 9

28 Jan, 2022

We have commented on the IASB's Request for Information — Post-implementation Review IFRS 9 Financial Instruments Classification and Measurement (RFI) published in September 2021.

Deloitte comment letter on RFI on the post-implementation review of IFRS 9

28 Jan, 2022

We have commented on the IASB's Request for Information — Post-implementation Review IFRS 9 Financial Instruments Classification and Measurement (RFI) published in September 2021.

Need to know — IASB amends the transition requirements of IFRS 17

12 Jan, 2022

This Need to know outlines the amendments to IFRS 17 'Insurance Contracts' titled 'Initial Application of IFRS 9 and IFRS 17 — Comparative Information' published by the International Accounting Standards Board in December 2021.

EFRAG endorsement status report 28 December 2021

28 Dec, 2021

The endorsement status report has been updated to reflect that EFRAG has published draft endorsement advice on 'Initial Application of IFRS 17 and IFRS 9 — Comparative Information (Amendment to IFRS 17)'.

EFRAG issues draft endorsement advice on amendments to IFRS 17

28 Dec, 2021

The European Financial Reporting Advisory Group (EFRAG) has issued a draft endorsement letter and a separate invitation to comment relating to the use in the European Union (EU) of 'Initial Application of IFRS 17 and IFRS 9 – Comparative Information (Amendment to IFRS 17)' (‘the Amendment’).

UKEB publishes its draft comment letter on the IASB’s RFI on its Post-implementation Review of IFRS 9

20 Dec, 2021

The UK Endorsement Board (UKEB) has published its draft comment letter in response to the International Accounting Standard Board’s (IASB's) Request for Information (RFI) on its Post-implementation Review of IFRS 9 'Financial Instruments - Classification and Measurement'.

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