IFRS 9 fundamentally changed the accounting for financial instruments. The three key areas are Classification & Measurement (amortised cost, fair value with changes recognised in OCI or fair value with changes recognised in P&L), Impairment (forward-looking expected credit loss model) and Hedge accounting (rules have been eased).
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Our guidance on IFRS 9 follows the three main aspects of the standard; classification and measurement of financial assets, applying the expected credit loss model to financial assets and hedge accounting.
IFRS 9 requires financial assets to be measured at amortised cost or fair value. Fair value changes will be in profit or loss or taken to OCI. Fair value through OCI is a consequence of the business model for some assets but an irrevocable election at initial recognition for other assets. Our specialists share their insights in our suite of publications, videos and tools.
There is a common perception that IFRS 9 Financial Instruments does not have a big impact on Corporates - in this video series, we will highlight why we think that perception is wrong! In the first of the series, PwC's IFRS 9 accounting technical specialists, Sandra Thompson and Nitassha Somai, highlight what the main...
This video looks at the main challenges introduced by the new IFRS 9 and their practical implications.
The impact of IFRS 9 on insurers and its interaction with IFRS 17. The IASB has agreed to defer the temporary exemption for insurers to apply IFRS 9 to 2023.
Our video series ‘Demystifying IFRS 9 Impairment’ gives practical insights into the issues every bank should be aware of when implementing the new rules.
Marie Kling
IFRS Leader for Financial Instruments and Financial Services, Global Assurance, PwC United States
