Post Implementation Review of IFRS 9 - Impairment


In May 2023, the IASB published a Request for Information: Post-implementation Review of IFRS 9 Financial Instruments—Impairment. Our response to the IASB was submitted on 26 September 2023.


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 were allowed to defer the effective date until 1 January 2023, if certain conditions were met.

Under its due process the IASB is required to conduct a post implementation review[1] of the all new IFRS standards and major amendments.  The objective of a post-implementation review is to assess whether the effects of applying the new requirements on users of financial statements, preparers, auditors and regulators are as intended when the IASB developed those new requirements. 

The IASB divided its overall post-implementation review of IFRS 9 into three phases:

The UKEB’s response to the IASB’s Request for Information was submitted on 28 January 2022. For more information see Post Implementation Review of IFRS 9 - Classification and Measurement .

In December 2022, the IASB concluded this stage of the Post-implementation Review. As a result, the IASB published a Project Report and Feedback Statement. In addition, in response to stakeholder feedback the IASB proposed amendments to IFRS 9. For UKEB work on the IASB’s proposed amendments see Amendments to the Classification and Measurement of Financial Instruments.

  • Impairment - The information on this page focuses on the post-implementation review of IFRS 9 impairment requirements.
  • Hedge Accounting - A post-implementation review addressing IFRS 9 hedge accounting is expected at a future date.

The IASB post-implementation review of IFRS 9 also considers the related disclosure requirements in IFRS 7 Financial Instruments: Disclosures, in each phase of the project.

[1] For further information on the IASB post-implementation reviews refer to the IFRS website here.


Our outreach on this project included discussions with stakeholders and public consultation on our draft comment letter. Thank you to all who participated in this project.

Final Comment Letter

The UKEB Final Comment Letter identifies no fatal flaws but sets out areas of potential enhancement to the IFRS 9 impairment requirements.

[The UKEB Final Comment Letter is attached below].

Document type
07 September 2023
08 September 2023