In September 2021, the IASB issued a RFI seeking comments from stakeholders to identify whether the classification and measurement requirements in IFRS 9 Financial Instruments provide information that is useful to users of financial statements; whether there are requirements that are difficult to implement and may prevent the consistent implementation of the standard; and whether unexpected costs have arisen in connection with applying or enforcing the standard.

In its final comment letter, which has been informed after in-house research, a stakeholder survey and feedback received during stakeholder roundtables and interviews, the UKEB: 

• ob­serves that the IFRS 9 clas­si­fic­a­tion and meas­ure­ment re­quire­ments gen­er­ally work as in­ten­ded and rep­res­ent an im­prove­ment to the pre­vi­ous rule-based re­quire­ments in IAS 39 Fin­an­cial In­stru­ments: Re­cog­ni­tion and Meas­ure­ment.
• focuses on three significant areas where it con­siders im­prove­ment and po­ten­tially stand­ard-set­ting activ­ity are re­quired.  Two of the areas relate to the ap­plic­a­tion of the con­trac­tual cash flow char­ac­ter­ist­ics as­sess­ment for fin­an­cial assets while the third area relates to the ef­fect­ive in­terest rate meth­od­o­logy.
• sug­gests that the IASB ad­dresses the issue con­sidered in the recent IFRS In­ter­pret­a­tions Com­mit­tee tent­at­ive agenda de­cision Cash Re­ceived via Elec­tronic Trans­fer as Set­tle­ment for a Fin­an­cial asset as part of this Post-im­ple­ment­a­tion Review.

The final comment letter and the feedback statement are avail­able on the UKEB website.