All businesses hold financial instruments in some form, from cash and trade receivables at the simplest end of the scale to complex derivatives at the other.
Accounting for them under IFRS has always been complex. When IFRS 9 ‘Financial Instruments’ came into effect in 2018 it established a new approach to classifying financial assets; a more forward-looking expected credit loss model was required; and the requirements on hedge accounting were significantly modified.
We have gained extensive insights into the challenges presented by this Standard and can work with you to help properly account for all types of financial instruments. Our IFRS 9 publications below clarify many of the requirements set out in IFRS 9. Our publications explain not only the impairment requirements described in IFRS 9, they also provide guidance on classifying and measuring financial instruments as well what to be mindful of when adopting hedge accounting.
To learn more about IFRS 9, view our related content or contact to your local member firm.