Post Implementation Review of IFRS 9 - Classification and Measurement


The IASB published its Request for Information Post-implementation Review IFRS 9 Financial Instruments Classification and Measurement in September 2021. The IASB’s comment deadline is 28 January 2022


IFRS 9 Financial Instruments replaced IAS 39 Financial Instruments: Recognition and Measurement.  Changes to accounting for financial instruments introduced by IFRS 9 covered three areas: Classification & Measurement, Impairment (Expected Credit Losses) and Hedge Accounting. IFRS 9 sets out the requirements on how an entity classifies and measures financial assets, financial liabilities, and some contracts to buy or sell non-financial items.  The standard was effective for annual periods commencing on or after 1 January 2018.  Insurers may defer the effective date until 1 January 2023, providing certain conditions are met.

Under its due process IASB is required to conduct a post implementation review (PIR) of the all new IFRS standards and major amendments.  The purpose of the post-implementation review if to assess whether the standard or amendment is meeting its objectives.  This PIR only addresses the Classification and Measurement requirements, including the related disclosure requirements in IFRS 7 Financial Instruments: Disclosures.  A PIR addressing IFRS 9 Impairment and IFRS 9 Hedge Accounting requirements is expected in 2022.


The UK Endorsement Board Secretariat has published its survey on the IASB’s Post-implementation Review of IFRS 9 Financial Instruments Classification and Measurement.

This is an opportunity to share your views on the effects of the IFRS 9 Classification and Measurement requirements, including the related disclosures.  Your thoughts will help us identify benefits and issues specific to UK companies and users of their financial statements, and contribute to influencing the international standard setting process.  Answers to some or all of the survey questions are useful to us.

The UKEB Draft Comment Letter on this project is planned to be released in mid-December following the December UK Endorsement Board meeting.  Given the holiday season we note that some may find the survey, which allows for open ended responses on IASB’s request for information questions, a more convenient way to provide feedback to UKEB on any areas of concern.

The survey is open until COB 15 December 2021

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The survey can be accessed here.

Planned Outreach

Our planned outreach on this project includes a survey, discussions with stakeholders, and public consultation on our draft comment letter.

If you would like to contribute to outreach work on this project, please email