Draft EFRAG endorsement letter for IFRS 9
04 Nov 2009
The IASB is expected to release IFRS 9 Financial Instruments in the next several days.
This version of IFRS 9 will represent a partial replacement of the existing IAS 39 – replacement of the principles for classifying and measuring financial assets. This is one of several phases of IAS 39 replacement, the others being hedge accounting, impairment, derecognition, and classification and measurement of financial liabilities. The European Financial Reporting Advisory Group (EFRAG) has posted on its website an Invitation to Comment relating to the endorsement of IFRS 9 for use in the EU. EFRAG is consulting both on its assessment of IFRS 9 against the EU endorsement criteria and on its initial assessment of the costs and benefits that would arise from the implementation of IFRS 9 in the EU. Comments are requested by 13 November 2009. Click here for More Information on EFRAG's Website.
