EFRAG issues feedback report on the results of a pre-endorsement questionnaire on IFRS 9

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

06 Aug 2015

The European Financial Reporting Advisory Group (EFRAG) has published a feedback report on the results of a pre-endorsement questionnaire on IFRS 9 'Financial Instruments'.

The questionnaire was carried out by EFRAG and the partner national standard-setters (ANC, ASCG, FRC and the OIC) from the end of November 2014 until the end of March 2015 and was intended to identify whether any issues identified by constituents in earlier field tests remained after the publication of the final IFRS 9 in July 2014.

  • Participants were divided whether the issues identified regarding impairment were resolved; although more participants thought they were resolved than those who thought they were not resolved.
  • On general hedge accounting some remaining issues were mentioned as unresolved by individual participants.
  • Overall, IFRS 9 was recommended by some participants of the banking industry for endorsement, some even recommended early endorsement. No participant recommended not endorsing IFRS 9.

The press release and full feedback report are available on the EFRAG website.

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