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On 24 July 2014, the IASB published the complete version of IFRS 9 – Financial Instruments standard, which replaces the guidance of previous Financial Instruments standard (IAS 39). Applying the new standard will represent one of the significant challenges for the banks, considering the adoption of IFRS as well. The thought is wrong that the new standard concerns only the financial institutes. The recognition rules of the impairment of the trade receivables will change significantly as well due to the ‘expected credit loss’ model determined by IFRS 9 – Financial Instruments standard.
We will provide regular updates on the interpretation and application of the new standard.
There is a common perception that IFRS 9 Financial Instruments will not have a big impact on Corporates - in this video series, we will highlight why we think that perception is wrong!
