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IFRS 9: Financial instruments

The accounting standard IFRS 9 sets out the requirements for recognising and measuring financial assets, financial liabilities and some contracts to buy or sell non-financial items. Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments.

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What's on this page?

  • Full-text standard
  • Summaries
  • Guidance and support from ICAEW
  • Example accounts
  • Guides
  • Online articles
  • Articles and books from the Library

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Full-text standard

The IFRS Foundation and International Accounting Standards Board (IASB) provides free access to the consolidated unaccompanied international accounting standards for the current year through its website; you will need to register to gain access.

These standards are the unaccompanied versions and do not include any additional content that accompanies the full IAS and IFRS such as illustrative examples, implementation guidance and bases for conclusions.


IFRS 9 Financial Instruments 
IASB project summary issued in July 2014 giving an overview of the standard and information on additions and changes to the final version of IFRS 9.

IFRS 9: Financial Instruments (replacement of IAS 39)
Project summary from the IASB. Information includes plan and timelines, objectives, convergence with US GAAP and consultative documents.

IFRS 9 – Financial Instruments
Timeline and summary from Deloitte IAS Plus, with information on related interpretations and amendments under consideration.

Financial instruments
Topic summary provided by PwC, giving latest developments and overview, a summary of the standard and links to relevant resources.

ICAEW guidance and support

Financial Reporting Faculty
The faculty offers assistance and support in IFRS, UK GAAP and other aspects of business reporting. It offers technical briefings and factsheets, IFRS and UK GAAP standards-trackers, plus practical advice from industry experts and working accountants.

Introducing IFRS 9 Financial Instruments
This factsheet, produced by the Financial Reporting Faculty, highlights the key differences between IFRS 9 and its predecessor, IAS 39. Its focus is on how these changes will affect non-financial sector entities. The factsheet is only available to members of the faculty.

Example accounts

Good Bank (International) Limited: Illustrative disclosures for IFRS 9 — impairment and transition
Set of example disclosures prepared in accordance with IFRS 9 shown as extracts from the full consolidated financial statements of a fictitious company for the year ended 31 December 2018. Published by EY in November 2017.

Illustrative IFRS consolidated financial statements for 2017 year ends
Model accounts published by PwC for a fictitious listed company that comply with IFRS as issued at 31 May 2017. The guide includes commentary and specific illustrative financial statements relating to IFRS 9.

IFRS checklists and model financial statements
Online disclosure checklists, general IFRS illustrative statements and compliance questionnaires compiled by the ICAEW Library.

Best practice

Company Reporting
The ICAEW Library can provide extracts of reports to illustrate real-life best practice from CCH's Company Reporting tool. Extracts are searchable by industry sector, subject, company, auditor, listing status and year end date. The product also offers reports with summaries and commentary (with examples) on common practices and emerging issues, as well as an ongoing monitor of changing practices.

  • IFRS 9 'Financial instruments' CR Monitor

Contact us on +44 (0)20 7920 8620, by web chat, or at library@icaew.com to get any documents from Company Reporting.

ICAEW and Financial Reporting Faculty members can also buy a personal discounted subscription to this product.

IASB news

International Accounting Standards Board issues narrow-scope amendments to IFRS 9 and IAS 28
News update issued on 12 October 2017 announcing amendments to aid implementation.

IASB proposes minor amendments to IFRS 9 to aid implementation
Press release issued on 21 April 2017 announcing amendment proposals.

IASB completes reform of financial instruments accounting 
Press release issued on 24 July 2014 announcing the completion of IFRS 9 and summarising key reforms.

IASB completes important steps in reform of financial instruments accounting
Project update press release issued on 19 November 2013 announcing amendments to IFRS 9.

Draft of forthcoming IFRS on general hedge accounting
Project update issued on 7 September 2012 announcing the publication of IASB's draft accounting requirements to be added to IFRS 9.

IASB defers IFRS 9 mandatory effective date to 2015
Press release issued by the IASB on 16 December 2011 announcing amendments to the standard.

IASB issues additions to IFRS 9 for financial liability accounting
Press release from the IASB, issued on 28 October 2010, announcing additions to the standard to address the ‘own credit’ problem.

IASB addresses ‘counter-intuitive’ effects of fair value measurement of financial liabilities
Press release issued by the IASB on 11 May 2010.

IASB completes first phase of financial instruments accounting reform
Press release issued by the IASB on 12 November 2009.

Guides and publications

Some guides and comparisons that we link to may pre-date the latest amendments to this standard. While these resources contain useful information, please treat them with appropriate caution.

Treasury and securities portfolios: Practical implications of IFRS 9 classification and measurement
PwC, January 2018
In-depth guide discussing the practical implications of implementing IFRS 9 for treasury and securities portfolios. Sections cover determining the business model, solely payments of principal and interest (SPPI) criterion, other matters and a number of FAQs.

Corporate banking: Practical implications of IFRS 9 classification and measurement
PwC, January 2018
In-depth guide discussing the practical implications of implementing IFRS 9 for corporate banks. Sections cover determining the business model, solely payments of principal and interest (SPPI) criterion, other matters and a number of FAQs.

Retail banking: Practical implications of IFRS 9 classification and measurement
PwC, January 2018
In-depth guide discussing the practical implications of implementing IFRS 9 for retail banks. Sections cover determining the business model, solely payments of principal and interest (SPPI) criterion, other matters and a number of FAQs.

IFRS 9 Impact on the pharmaceutical industry
PwC, December 2017
Guide examining the significant impact that IFRS 9 will have on the pharmaceutical and life sciences sector. Sections cover classification and measurement (business model assessment), impairment of assets measured at amortised cost, hedging and financial liabilities.

Achieving hedge accounting in practice under IFRS 9
In-depth guide from PwC, published in December 2017. This guide answers common questions by corporate entities applying hedge accounting rules for a range of hedging strategies under IFRS 9.

IFRS 9 impairment: Revolving credit facilities and expected credit losses
Detailed guide published by PwC in November 2017 examining expected credit loss (ECL) impairment requirements in IFRS 9 for banks and other financial institutions. The guide covers FAQs on the scope of paragraph 5.5.20, significant increase in credit risk, the life of a revolving credit facility, measurement of ECL and presentation.

IFRS 9 disclosures by banks in 2018 interim reporting and transition documents
Guide from PwC considering options for banks issuing interim financial statements under IAS 34 before applying IFRS 9 for the first time. The document looks at what is applicable guidance, what it means in practice and other relevant factors. Published in November 2017.

IFRS 9 disclosures for corporates
Guide produced by PwC for non-financial services entities offering signposts to illustrative disclosures or further guidance for each type of financial instrument. Published in September 2017.

PwC's Demystifying IFRS 9 for corporates series
Video series from PwC looking at a range of issues, including intra-group loans, financial liabilities and hedge accounting.

IFRS 9 for banks: Illustrative disclosures
Example disclosures produced by PwC for a fictional medium-sized bank. Published in February 2017.

IFRS 9 for non-financial entities
Guide published by EY in March 2016 examining the new hedge accounting model, the classification of financial instruments and impairment of financial assets.

IFRS 9: Impairment of financial assets – Questions and answers
Guide produced by PwC in March 2015 looking at common issues relating to impairment in the implementation of IFRS 9.

IFRS 9: Classification, measurement and modifications – Questions and answers
Overview of the standard and common questions in relation to classification and measurement. Published by PwC in March 2015.

IFRS 9: Expected credit loss disclosures for banking
Guide from PwC discussing the key practical issues for the banking sector. Published in January 2015.

Hedging in practice: Frequently asked questions
Guide from PwC, published in January 2015, covering risk management and documentation, hedge effectiveness, accounting, hedged item and hedged instrument.

IFRS 9: Classification and measurement
In-depth guide produced by PwC in August 2014 looking at changes to classification and measurement of financial assets.

IFRS 9: Expected credit losses
In-depth guide from PwC looking at the standard's new impairment model which affects recognition of losses. The guide also features several illustrative examples. Published August 2014.

Hedge accounting under IFRS 9
Detailed guide with many examples published by EY in February 2014.

Practical guide: General hedge accounting
Detailed guide published by PwC in December 2013 that explores new requirements of IFRS 9 and differences with IAS 39.

First Impressions: IFRS 9 (2013) – Hedge accounting and transition
Detailed guide published in December 2013 by KPMG examining changes within the standard for hedge accounting and risk management.

The IASB issues IFRS 9 (2013) – hedge accounting is now complete
Bulletin produced by EY in November 2013 outlining changes to the standard with new hedge accounting requirements.

IASB issues final standard on hedge accounting and amendments to IFRS 9
Bulletin published by PwC in November 2013 looking at key changes and implications.

A practical guide to new IFRSs for 2013
Guide published by PwC in March 2013 covering new standards and interpretations, including IFRS 9.

Facing the challenge: Business implications of IFRS 4, 9 and Solvency II for insurers
Report issued by Ernst & Young in January 2012 describing the impact of IFRS 4 Phase II, IFRS 9 and Solvency II implementation.

Limited improvements to IFRS classification and measurement - The impact for insurers and next steps
Publication from Ernst & Young, published March 2012.

First Impressions: Additions to IFRS 9 Financial Instruments
Publication from KPMG, released in December 2010, looking at requirements in the new standard.

IASB updates IFRS 9 for financial liabilities
‘Straight away’ IFRS bulletin published by PwC in October 2010 summarising changes to the standard.

What investment professionals say about financial instrument reporting
Survey of investors and analysts views on accounting and reporting for financial instruments, published by PwC in June 2010.

New on the Horizon: Fair value option for financial liabilities
Guide from KPMG, published September 2010, considers the proposed requirements of ED/2010/4.

Online articles

The library provides access to a range of articles in full text from leading business, finance and management journals. Access to articles is provided to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

Articles and books in the Library collection

To find out how you can borrow books from the Library please see our guide to book loans. You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

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