The Accounting Standards Board (AcSB) is participating in the International Accounting Standards Board’s (IASB) post-implementation review of IFRS 9 Financial Instruments. The third stage of this post-implementation review focuses on assessing the effectiveness of the hedge accounting requirements.
In undertaking the review, the IASB will assess whether:
- the new requirements are working as intended;
- IFRS 9 hedge accounting requirements have improved the quality of information available to all investors; and
- the costs of applying the new requirements, as well as of auditing and enforcing their application, are as expected.
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.