The International Accounting Standards Board has issued a formal request for information on the practical aspects of applying financials instruments standard, IFRS 9.

The final version of the standard was fully ready in July 2014, and entered into force in January 2018, replacing the former IAS 39 standard for all organizations, except those whose main activity is insurance. In October 2020, at a regular meeting, IASB members decided to begin Post-Implementation Review (PIR) – the traditional for all IFRS study of the effectiveness of practical application.

As the standard is very voluminous, it was issued in parts, which was necessary given the difficult conditions after the global financial crisis. The practical aspects of applying the classification and measurement requirements to the recognition of financial instruments in the reporting and disclosure requirements in the notes are currently being investigated.

The Request contains three groups of questions. In addition to the more general question of whether the new classification and measurement requirements result in more useful information about the amounts, timing and uncertainty of future cash flows to users of financial statements, the authors wish to know how to standardize the alignment of measurement of financial assets with their cash flows characteristics and management of these cash flows.

A separate group of questions is devoted to the choice of business model for financial asset management – whether it works in accordance with the intentions of IFRS developers, and if not, why. Whether it is possible to consistently assess business models, and whether this has unexpected effects.

The third group of questions concerns the assessment of cash flows related to financial assets.