Highlights
To understand whether the accounting standard is working as intended, the International Accounting Standards Board (IASB) is undertaking a post-implementation review (PIR) of the impairment requirements in IFRS 9 Financial Instruments.
What is the IASB seeking feedback on?
The IASB is seeking feedback on whether:
- the requirements provide useful information to users of financial statements about a company’s expected credit losses (ECL);
- there are fundamental problems with the requirements;
- the costs of applying the requirements are significantly greater than expected; and
- there are specific application questions.
What are its specific areas of interest?
The IASB asks the following specific questions.
Area | IASB’s areas of interest |
Recognising expected credit losses |
|
Significant increase in credit risk (SICR) |
|
Measuring ECL |
|
Simplified approach to recognising ECL for trade receivables, contract assets and lease receivables |
|
Disclosure requirements for credit risk in IFRS 7 Financial Instruments: Disclosures |
|
Other |
|
Have your say
Take this opportunity to share your feedback with the IASB on the specific areas and any other concerns you may have before 27 September 2023.
* Read our comment letter (PDF 234 KB) to learn more about the KPMG position.
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