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EFRAG and NSS conduct field-test on proposals to IFRS 9

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

26 Feb 2013

The European Financial Reporting Group (EFRAG), along with the National Standard Setters (NSS) ANC, ASCG, FRC and the OIC, is performing a field-test on how the new requirements in IFRS 9, as amended by Exposure Draft (ED) ‘Classification and Measurement: Limited Amendments to IFRS 9’, would affect the current classification and measurement of financial assets.

The EFRAG and NSS seeks participants from all entities that may have a significant impact by the proposals made to IFRS 9, in particular, banks, insurers and other financial institutions. Participants of the field-test are requested to complete a questionnaire that will asks participants to identify those financial assets for which the measurement basis would change as a result of the transition to IFRS 9, as amended by the ED. Information from the field-test will be shared in discussions between the EFRAG, NSS, the European Commission and the IASB.

More information on the field-test is available on the EFRAG website.

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