Financial Instruments

The International Accounting Standards Board (IASB) has published proposed amendments to IFRS 9, Financial Instruments, on the classification and measurement of financial instruments.

The amendments seek to reduce differences between International Financial Reporting Standards (IFRS) and US GAAP, deal with the interaction between IFRS 9 and the IASB’s draft proposals for insurance contracts, clarify the requirements on the classification of financial assets, and improve the transition from IAS 39, Financial Instruments: Recognition and Measurement, to IFRS 9.