Post-implementation Review of IFRS 9 — Impairment

Date recorded:

Project plan (Agenda Paper 27)

In November 2021, the IASB decided to begin the post-implementation review (PIR) of the IFRS 9 impairment requirements in the second half of 2022. This paper set outs a plan for Phase 1 of this PIR project, which is expected to take 18-24 months to complete. The anticipated timeline is summarised as follows:

  • Between September 2022 and February 2023, IASB members and the staff will perform outreach with preparers, auditors, users of financial statements, regulators and standard-setters. In addition, the staff will review academic research and other materials relevant to this PIR
  • The publication of the RFI is targeted for the first half of 2023 with the comment period being 120 days

The staff asked the IASB if they have any comments.

IASB discussion

The IASB asked the staff to ensure there is a focus in the PIR on the adequacy and effectiveness of the disclosures. The IASB also asked if the staff could perform their own analysis on the disclosures and the staff confirmed that they have already performed some analysis in this regard.

One IASB member asked if the staff think that preparers have had enough time and experience in applying the ECL model to provide feedback given that the last couple of years have been abnormal due to COVID. The staff noted that stakeholders are keen to begin this project as they have feedback they wish to provide. However, the staff will be mindful of feedback being potentially affected by the impact of COVID and will look where possible to separate this feedback out. The IASB also asked the staff to liaise with the IFRS 15 PIR team to check for any overlaps in feedback.

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