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29/11/2016 - EFRAG Endorsement Status Report 29 November 2016

​The endorsement by the European Commission of IFRS 9 Financial Instruments is now reflected in the EFRAG Endorsement Status Report.


​The European Commission endorsed IFRS 9 Financial Instruments. IFRS 9 is effective for annual periods beginning on or after 1 January 2018, with earlier application permitted. In addition, the own credit changes can be early applied in isolation without otherwise changing the accounting for financial instruments.

IFRS 9 replaces IAS 39 Financial Instruments: Recognition and Measurement. ​Work on replacing IAS 39 was accelerated following the financial crisis when interested parties, including the G20, the Financial Crisis Advisory Group and the Financial Stability Board highlighted a number of areas in financial instruments accounting that needed to change. IFRS 9 brings significant changes to classification and measurement, impairment and hedge accounting.

Link to the publication in the Official Journal of the European Union: Commission Regulation (EU) 2016/2067 of 22 November 2016

EFRAG has updated the EFRAG Endorsement Status Report, which can be downloaded below and under the menu point 'Endorsement Status'.