United States

IFRS Newsletter: IFRS 9 Impairment – ITG Discussions under Way

May 04, 2015
From the Financial Reporting View and the IFRS Institute

The April 2015, Issue 1 of KPMG ISG’s IFRS Newsletter: IFRS 9 Impairment – ITG Discussions under Way summarizes the April discussions of the IASB’s IFRS Transition Resource Group for Impairment of Financial Instruments. Of the eight topics that stakeholders submitted for discussion at that meeting, the issues that generated the most debate about the expected credit loss model for impairment of financial instruments under IFRS 9, Financial Instruments, were:

  • Applying the provisions of IAS 10, Events after the Reporting Period, related to adjusting post-balance sheet events to information that becomes available after the reporting date but before the financial statements are authorized for issue; and
  • Incorporating the effect of credit risk management actions in determining the period over which the entity is expected to be exposed to credit risk on revolving credit facilities.

The IASB will consider what action is required for each issue that stakeholders submit for consideration. The ITG’s next meeting is planned for September 16.

Read KPMG ISG's IFRS Newsletter: IFRS 9 Impairment – ITG Discussions under Way