The International Accounting Standards Board (IASB) has published for public comment an exposure draft of proposals to adjust the mandatory effective date of IFRS 9 Financial Instruments. The exposure draft proposes an effective date of 1 January 2015 (currently 1 January 2013) for IFRS 9.
In publishing the exposure draft, the Board noted the importance of aligning all phases of the project (both completed and ongoing) to have the same effective date.
The comment period of the exposure draft closes on 21 October 2011. The exposure draft, ED/2011/3 Amendments to IFRS 9 Financial Instruments (November 2009) and IFRS 9 Financial Instruments (October 2010): Mandatory Effective Date, is now available for download.
The proposed deferral would only change the date when IFRS 9 would be mandatory. Entities could still
elect to use IFRS 9 before 2015.
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