After a long time waiting in the limbo land between issue date and implementation deadline, IFRS 9 Financial Instruments will finally come into play in 2018. 

Effective for annual periods beginning on or after 1 January 2018, the new standard will have a major impact on banks and insurers, and businesses in those sectors have been working hard to prepare for some time.

Corporates in other sectors, however, may have been distracted by the other incoming standard on revenue recognition, IFRS 15 Revenue from Contracts with Customers.