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IFRS® Accounting Standards

Post-implementation Review of IFRS 9 – Classification and Measurement


The Accounting Standards Board (AcSB) is participating in the International Accounting Standards Board’s (IASB) post-implementation review of IFRS 9 Financial Instruments to provide input on the standard’s effectiveness.

In undertaking the review, the IASB:

  • considers important or contentious issues in the development of the IFRS Standards;
  • considers issues that have come to the IASB’s attention since publication; and
  • identifies areas in which unexpected costs or implementation problems were encountered.

The AcSB is participating in the consultations and activities on this project to ensure that Canadian entities’ financial reporting needs are considered by the IASB. The review of IFRS 9 may lead to the IASB making minor amendments to the standard, preparing an agenda proposal for a broader revision of the standard, or perhaps no changes at all.

Staff Contact(s)

Jamie Goodman, CPA, CA Principal, Accounting Standards Board

Project Status

  • Information gathering

    Completed prior to October 2020

  • Approving project

    The IASB commenced the first phase of its post-implementation of IFRS 9 review. This phase focused on the classification and measurement requirements, including the related financial disclosure requirements

    The classification and measurement stage of the project was approved by the IASB in October 2020

    The IASB will seek feedback separately on the impairment requirements and hedge accounting requirements when more information is available about the effects of the application of those sections

  • Consulting stakeholders

    Stage 1 – Classification and Measurement: The IASB issued Request for Information, “Post-implementation Review of IFRS 9—Classification and Measurement” in September 2021

    The AcSB conducted outreach with stakeholders on the IASB’s Request for Information from October 2021 to December 2021

  • Deliberating feedback

    The AcSB submitted its response letter to the IASB in January 2022

    The IASB is currently deliberating comments on their Request for Information

  • Final pronouncement


February 4, 2022


AcSB Response – Post-implementation Review – IFRS 9 Financial Instruments – Classification and Measurement

On January 27, 2022, the AcSB responded to the IASB’s Request for Information – Post-implementation Review of IFRS 9 Financial Instruments – Classification and Measurement issued in September 2021. The AcSB’s letter expressed that overall the classification and measurement requirements in IFRS 9 are working as intended. However, the AcSB questioned whether the principles of IFRS 9 are sufficiently flexible such that they may be applied to increasingly complex financial instruments and still provide relevant and meaningful information to users of financial statements. Read our letter to find out more!

Meeting & event summaries

February 4, 2022

AcSB Decision Summary – January 19-20, 2022

The AcSB discussed its draft response letter to the International Accounting Standards Board’s (IASB) Request for Information, "Post-implementation Review: IFRS 9 Financial Instruments, Classification and Measurement,” and provided staff with comments to incorporate into the final letter. The Board will submit its response letter by the January 28, 2022, deadline.


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 ballot process.