The project report and feedback statement provides the IASB’s conclusions on the PIR which included the following:

• “stakeholders have no fundamental questions about the clarity or suitability of the objectives or principles in the new requirements.
• “in general, the requirements can be applied consistently and provide useful information to the users of financial statements. However, clarification is needed in some areas to improve the understandability of the requirements.”
• “stakeholders encounter no unexpected costs when applying or enforcing the classification and measurement requirements of IFRS 9, nor when using or auditing information the Accounting Standard requires a company to provide.”

In addition, the IASB has identified two issues that will need further research. These issues are:

• “the assessment of the contractual cash flow characteristics of financial assets with ESG-linked features.”
• “electronic cash transfers as settlement of a financial asset or liability.”

For more information, see the press release and report on the IFRS Foundation website.