EFRAG publishes draft comments on post-implementation review of IFRS 9

Released 08 November 2021

The European Financial Reporting Advisory Group (EFRAG) has published its draft comment letter in response to the International Accounting Standards Board’s request for information on the post-implementation review of IFRS 9 Financial Instruments – Classification and Measurement.

EFRAG seeks the issues that constituents have encountered when applying IFRS 9, which might include whether the requirements are working as intended, whether they can be applied consistently and whether they have resulted in unexpected significant effects.

EFRAG highlights several issues that are prevalent in Europe and might deserve standard-setting activity. Those issues with highest priorities include:

the application of the SPPI test to sustainable finance products;

the absence of recycling for FVOCI equity instruments;

the treatment of equity-type instruments; and

reporting on reverse factoring.

Comments are requested by 14 January 2022.

More information can be found at: https://www.efrag.org/News/Project-547/EFRAGs-Draft-Comment-Letter-in-response-to-the-IASB-Request-for-Information-on-the-Post-implementation-Review-of-IFRS-9---Classification-and-Measurement.

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