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IFRS® Accounting Standards

Classification and Measurement of Financial Instruments


The Accounting Standards Board (AcSB) is participating in the International Accounting Standards Board’s (IASB) project to develop narrow scope amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures.

Specifically, the project aims to clarify the requirements for assessing a financial asset’s contractual cash flow characteristics, as well as considering other matters related to the derecognition of financial liabilities and the disclosure requirements for certain equity investments.

The AcSB’s due process includes ensuring that Canadian entities’ financial reporting needs are considered by the IASB and issuing the AcSB’s own exposure draft on each IASB proposal. Subject to the responses to the AcSB’s exposure draft on whether the IASB’s proposals are appropriate for application in Canada, the AcSB expects that the amendments will be incorporated into Canadian GAAP in accordance with the AcSB’s strategy of adopting IFRS® Standards for publicly accountable enterprises.

Staff Contact(s)

Andrew White, CPA, CA Associate Director, Accounting Standards Board

Project Status

  • Information gathering

    Completed as part of the Post-implementation Review of IFRS 9 Classification and Measurement

  • Approving project

    The project was approved in May 2022

  • Engaging Communities

    The IASB issued its Exposure Draft, Amendments to the Classification and Measurement of Financial Instruments, in March 2023

    The AcSB issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic in April 2023

  • Deliberating feedback

    The IASB and the AcSB are deliberating comments on their Exposure Drafts

  • Final pronouncement

This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal voting process.