Insights

IFRS 9 Insurance industry insights

New financial instrument standard changes financial asset classification and bad debt provisioning

Overview

The International Accounting Standards Board (IASB) has issued the final version of IFRS 9 Financial Instruments incorporating amendments to the classification and measurement model for financial assets and a new expected loss impairment model. IFRS 9 is the replacement to IAS 39 Financial Instruments: Recognition and Measurement and is effective for reporting periods beginning on or after 1 January 2018, with earlier application permitted (subject to local endorsement requirements).

IFRS Industry Insights: Insurance sector
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