EFRAG and NSS conduct field-test on proposals to IFRS 9
26 Feb, 2013
The European Financial Reporting Group (EFRAG), along with the National Standard Setters (NSS) ANC, ASCG, FRC and the OIC, is performing a field-test on how the new requirements in IFRS 9, as amended by Exposure Draft (ED) ‘Classification and Measurement: Limited Amendments to IFRS 9’, would affect the current classification and measurement of financial assets.
The EFRAG and NSS seeks participants from all entities that may have a significant impact by the proposals made to IFRS 9, in particular, banks, insurers and other financial institutions. Participants of the field-test are requested to complete a questionnaire that will asks participants to identify those financial assets for which the measurement basis would change as a result of the transition to IFRS 9, as amended by the ED. Information from the field-test will be shared in discussions between the EFRAG, NSS, the European Commission and the IASB.
More information on the field-test is available on the EFRAG website.