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Need to know — Expected credit losses - Exposure draft

Published on: 28 Mar 2013

Background

On 7 March 2013, the International Accounting Standards Board (IASB) issued for public comment an Exposure Draft ED/2013/3 Financial Instruments Expected Credit Losses (the 'ED').

The proposals are intended to replace the guidance on impairment of financial assets in IAS 39 Financial Instruments: Recognition and Measurement with new requirements that will form part of IFRS 9 Financial Instruments. This follows two previous exposure documents proposing models to account for expected credit losses: an Exposure Draft Financial Instruments: Amortised Cost and Impairment, published in November 2009, and a Supplementary Document Financial Instruments: Impairment, published jointly with the Financial Accounting Standards Board (FASB) in January 2011.

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