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Scare tactics and reassurance

The third annual joint ICAEW and IFRS Foundation conference marked just over 800 days to 1 January 2018, the effective date of IFRS 9 Financial Instruments. The day focused specifically on the implementation of impairment requirements

Standard-setters, regulators and users want to see consistent implementation of IFRS 9 impairment requirements, but a lack of visibility and perhaps an excess of optimism against a background of endorsement uncertainty makes a clear view of progress difficult.

Implementation progress and its main effects should be disclosed in the 2015 financial statements. Three key areas of challenge dominated discussions.