Classification and measurement of financial instruments
Background
In 2022, the IASB concluded its post-implementation review of the classification and measurement requirements of IFRS 9 Financial Instruments. In general, the IASB found that preparers can apply the requirements consistently. However, the IASB identified some requirements that would benefit from clarification to improve their understandability.
These regard:
- Contractual cash flow characteristics of financial assets;
- Electronic cash transfers; and
- Investments in equity instruments to which the OCI presentation option is applied.
The IASB decided to propose these amendments in a single exposure draft.
Current status of the project
This project has been completed. The IASB issued Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7) on 30 May 2024.
Project milestones
| Date | Development | Comments |
|---|---|---|
| April 2022 | Issue first discussed by the IASB | |
| May 2022 | IASB decides to start a standard-setting project | |
| 21 March 2023 | IASB/ED/2023/2 Amendments to the Classification and Measurement of Financial Instruments (Proposed amendments to IFRS 9 and IFRS 7) published | Comments requested by 19 July 2023 |
| 30 May 2024 | Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7) issued | The Amendments are effective for annual reporting periods beginning on or after 1 January 2026 |
