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IFRS 7 Financial instruments: Disclosures

IFRS 7 Financial Instruments: Disclosures requires disclosures about the significance of financial instruments on financial performance and position, and the nature and extent of risks arising. The standard was published in August 2005 and is effective from 1 January 2007.

Full text standard

Unaccompanied version of IFRS 7
The International Accounting Standards Board (IASB) provides free access to the consolidated unaccompanied international accounting standards for the current year through its website. Free registration is required.

This unaccompanied version does not include additional content that accompanies the full standard, such as illustrative examples, implementation guidance and bases for conclusions.

IFRS 7 summary and timeline

Looking for the synopsis? Our IFRS 7 summary and timeline are now on a separate page, featuring information on current proposals and a timeline of IASB updates.

Which version of the standard?

Financial Reporting Faculty members have unlimited online access to the consolidated edition of IFRS and amendments through the IASB's eIFRS service. Please log into eIFRS to access electronic versions of the standards. Or find out more about how to join the faculty.

The ICAEW Library & Information Service also holds print versions of the IFRS standards. Contact us by telephone on +44 (0)20 7920 8620, by web chat or by email at library@icaew.com

*Not UK endorsed as at 23 June 2021. Read more on UK endorsement of IFRS standards. Not EU endorsed as at 23 June 2021. Read more on EU endorsement of IFRS standards

Related IFRIC interpretations

IFRIC 12 Service Concession Arrangements
Accounting guidance for arrangements where a contract is granted for the supply of public services such as roads.

IFRIC 17 Distributions of Non-cash Assets to Owners
Addresses the accounting for dividends of non-cash assets, including those where there is a cash alternative.

UK reduced disclosures

UK qualifying parents and subsidiaries can take advantage of FRS 101 Reduced Disclosure Framework. Our FRS 101 page gives more information on which entities qualify and the criteria to be met.

Amendments to the standard

There are no amendments to IAS 8 in order to comply with the Companies Act and related Regulation.

Disclosure exemptions

FRS 101 paragraph 8(d) states that a qualifying entity is exempt from all of the requirements of IFRS 7 with the following limitations.

  • This exemption is not applicable to a financial institution.
  • Non-financial institutions must make additional disclosures if certain financial instruments are measured at fair value.
  • Equivalent disclosures must be made in the consolidated financial statements of the group in which the entity is consolidated.

ICAEW guidance and commentary

Annual factsheets

These exclusive factsheets, produced annually by the Financial Reporting Faculty for its members, highlight all new and modified requirements for preparers of IFRS accounts. Each annual edition focuses primarily on new requirements with mandatory application for preparers with periods beginning on or after 1 January of that year.

2021 IFRS accounts
Financial Reporting Faculty, 10 August 2021


Access to eBooks is only available to ICAEW members and ACA students – please log in to view these titles.

Financial instruments: Presentation and disclosure
EY, International GAAP 2021 (2020)
The latest edition of this comprehensive guide offers a global perspective on complex technical accounting issues to help practitioners interpret and implement IFRS. It contains worked examples and illustrations from published financial reports of major listed companies from around the world. This chapter discusses IFRS 7.

If you have any difficulties using these eBooks, please see our Help and support advice or contact library@icaew.com.

Example accounts

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

Company Reporting (Croner-i)

The ICAEW Library can provide examples of real-life company reports to help keep you up-to-date with reporting practices and benchmark your financial reporting compliance. Company Reporting analyses current IFRS disclosures from public companies, organised by industry sector. It also provides detailed monthly Common Practice reports on specific issues.

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

External resources

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.

In depth: IFRS 7 and IFRS 13 disclosures
Detailed guide from PwC examining disclosure requirements of IFRS 7 and IFRS 13 for investment funds, private equity funds, real estate funds and investment managers investing into financial instruments. Updated in May 2014.

A practical guide to new IFRSs for 2013
Guide published by PwC in March 2013 covering new standards and interpretations, including amendments to IFRS 7 on offsetting requirements and converged disclosures.

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.

A practical guide to IFRS 7
Guide published by PwC in April 2010 for investment managers and investment, private equity and real estate funds with questions and answers and a checklist of required disclosures.

Financial instruments: A guide through the official text of IAS 32, IAS 39 and IFRS 7
Detailed guide published by the International Accounting Standards Committee (IASC) in July 2009 available through eIFRS. The book includes full text of the three standards alongside commentary, cross-references and notes.

Financial instruments under IFRS – A guide through the maze
Guide published by PwC in June 2009 which provides a broad overview of the current requirements of IAS 32, IAS 39 and IFRS 7.

Seeing risk from the inside: The impact of IFRS 7 and revised IFRS 4 on insurers' financial reporting
Paper from PwC, published in May 2007.

Further reading

Manuals and handbooks

The ICAEW Library stocks the latest IFRS handbooks and manuals. You can browse all our books on IFRS 7 and financial instruments or request any of the following popular titles by contacting us on +44 (0)20 7920 8620, by web chat, or at library@icaew.com

Insights into IFRS 2020–21
KPMG, Sweet and Maxwell, 2020
Manual providing practical guidance with an emphasis on the real-life application of IFRS, with examples based on actual questions that have arisen in practice around the world.

Wiley IFRS 2020: Interpretation and application of IFRS standards
PKF, Wiley, 2020
Reference manual providing full coverage of the latest standards and thorough guidance for implementation, featuring practical tools and insight from a practitioner's perspective.

Manual of accounting: IFRS supplement 2020
PwC, LexisNexis, 2019
Practical guidance on the standards and the accounting requirements of UK law applicable to UK users of IFRS.

Find out more about how you can borrow books from the ICAEW Library or get articles and documents sent to you by email or post.

Ask ICAEW Technical Advisory Service

Get an opinion from the experts. Our experienced technical advisors can help you with your IFRS questions and offer practical advice. Call the advisory helpline on +44 (0)1908 248 250. 

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