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ITG discusses implementation of impairment requirements in IFRS 9

  • ITG (Transition Resource Group for Impairment of Financial Instruments) (mid blue) Image

24 Apr 2015

On 22 April 2015, the IFRS Transition Resource Group for Impairment of Financial Instruments (‘ITG’) held its first meeting. The ITG is a discussion forum established by the International Accounting Standards Board (IASB) to provide support for stakeholders on implementation issues arising from the new impairment requirements following the issue of IFRS 9 'Financial Instruments' (2014).

 Topics discussed at the meeting included:

  • Forecasts of future economic conditions.
  • Loan commitments — scope.
  • Expected credit losses — measurement date.
  • Assessment of significant increase in credit risk for guaranteed debt instruments.
  • The maximum period to consider when measuring expected credit losses.
  • Revolving credit facilities.
  • Measurement of expected credit losses for an issued financial guarantee contract.
  • Measurement of expected credit losses in respect of a modified financial asset.

For more information, and a summary of the discussions at the meeting, see the meeting summary on the IASB's website.

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