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ITG discusses implementation of impairment requirements in IFRS 9

  • IASB (International Accounting Standards Board) Image

Apr 24, 2015

On April 22, 2015, the IFRS Transition Resource Group for Impairment of Financial Instruments (ITG) held its first meeting. The IASB established the ITG to address implementation issues related to the new impairment requirements in 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 increases in credit risk for guaranteed debt instruments.
  • The maximum period for an entity 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 related to a modified financial asset.

For more information about the topics discussed at the meeting, see Deloitte’s April 24, 2015, IFRS in Focus as well as the meeting summary on the IASB's Web site.

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