Assurance

IFRS 9: Financial instruments

Hanneke Knoop Hanneke Knoop

Effective for accounting periods beginning on or after 1 January 2018

The IASB introduced a new standard for financial instruments: IFRS 9, in response to the widespread criticism of IAS 39 and its alleged role in contributing to the financial crisis of 2007/2008. Especially classification and measurement of financial assets under IAS 39 received the most criticism during the financial crisis. Therefor the IASB decided to introduce a whole new standard: IFRS 9 Financial Instruments.

IFRS 9 Financial Instruments includes:

  1. Classification and measurement
  2. Impairment
  3. Hedge Accounting

Hedge Accounting will not be discussed in this memo.

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