UKEB publishes its draft comment letter on the IASB’s Request for Information regarding the Post implementation Review of IFRS 9 – Impairment
11 Aug, 2023
The UK Endorsement Board (UKEB) has published its draft comment letter in response to the International Accounting Standards Board's (IASB's) Request for Information on its Post-implementation Review of IFRS 9 – Impairment.
The UKEB welcomes the opportunity to provide comments on the IASB's Request for Information.
The draft comment letter, which has been informed from in-house research, consultation with UKEB advisory groups and feedback received during stakeholder roundtables and interviews, considers that the IFRS 9 impairment requirements generally are working as intended and ensure more timely recognition of expected credit losses than under IAS 39 Financial Instruments: Recognition and Measurement. It highlights some areas where standard setting activity would improve IFRS 9, without causing significant cost and disruption to entities already applying the standard.
Comments on the draft comment letter are requested by 8 September 2023.
The press release, the draft comment letter and the invitation to comment are available on the UKEB website.
