Financial Services Ireland


Applying IFRS – Impairment of financial instruments under IFRS 9

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This publication discusses the new forward-looking expected credit loss (ECL) model as set out in IFRS 9. The ECL requirements must be adopted with the requirements of IFRS 9 for classification and measurement for annual reporting periods beginning after 1 January 2018. Early application is permitted if the IFRS 9 classification and measurement requirements are adopted at the same time.

This is a second edition of a publication we originally produced in early 2015.

In the last three years, many of the application issues have been the subject of discussion by the IFRS Transition Resource Group for Impairment of Financial Instruments (ITG) established by the IASB and further guidance has been provided by the IASB in the form of webcasts and by banking regulators. At the same time, many more issues have arisen from implementation projects.

Martina Keane

EY EMEIA Financial Services Chief Operating Officer
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