The IASB has published the complete version of IFRS 9 'Financial Instruments', which replaces the current standard IAS 39. This final version includes requirements on the classification and measurement of financial assets and liabilities and an expected credit losses model that replaces the incurred loss impairment model that is used today. The new standard is effective for accounting periods beginning on or after 1 January 2018, subject to EU endorsement, with early application permitted. For more on the new standard, click here.
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