Helping you get to grips with fundamental changes
IFRS 9 Financial Instruments brings fundamental changes to financial instruments accounting and replaces IAS 39 Financial Instruments: Recognition and Measurement.
Now that the new standard is effective, our materials will help you understand the new requirements and decide how your company can make the transition.
In addition to the materials on this page, our IFRS for Banks hot topics page is highly relevant for banks looking to make the transition to IFRS 9 and keep abreast of other accounting issues affecting banks.
Subscribe now to receive KPMG Canada's IFRS Breaking News
IFRS 9 will have an enormous impact on the banking industry, as it requires an adjustment to the classification of financial instruments. Banks, which typically hold the largest number of financial instruments, will be required to assess if and how classification has changed for each of their instruments. In addition, the introduction of the expected loss model to replace the traditional incurred loss model will require continuous re-assessment to the level of risk of loans throughout the life span of the loan, as opposed to the previous model wherein loans were assessed at one stage in absolute terms. This standard also has an impact on companies that have a hedging program, potentially allowing accounting hedge treatment to be more available.
IFRS – International Financial Reporting Standards
Insights and resources
Connect with us
Stay up to date with what matters to you
Gain access to personalized content based on your interests by signing up today
Connect with us
- Find office locations kpmg.findOfficeLocations
- kpmg.emailUs
- Social media @ KPMG kpmg.socialMedia