Mandatory effective date of PFRS 9 'Financial Instruments' deferred

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18 Jul 2012

The Bangko Sentral ng Pilipinas has announced that the mandatory effective date of Philippine Financial Reporting Standard (PFRS) 9 'Financial Instruments' has been deferred to 1 January 2015.

This deferment is in line with the corresponding IASB decision regarding IFRS 9.

Corollary to this initiative, which was approved by the Monetary Board (MB) on 17 July 2012, the MB also granted transition relief to 2012 to 2014 early adopters on their preparation of interim prudential reports.

Please click for the corresponding announcement in the Official Gazette.

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