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Editor’s comment: IFRS 9 gains lukewarm EFRAG approval

A flurry of activity over the IFRS 9, Financial Instruments, final endorsement phase highlights the apparent lack of coordination between standard-setters and policy makers, as EFRAG issues recommendations couched in exemptions, says Sara White

Confusion reigns over the future of IFRS 9, the new accounting standard for financial instruments, designed to prevent another banking crash as happened in 2008. The new standard is set to replace IAS 39, Financial Instruments: Recognition and Measurement, and provides a principle-based approach to the recognition and measurement of financial instruments.

It is set to come into force in 2018, but now the global accounting standard-setter, the International Accounting Standards Board (IASB), is looking at options to delay the introduction.

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