6-11-2009 | Update on EFRAG's draft endorsement advice on IFRS 9 Financial Instruments

EFRAG has issued an update to constituents with regard to its draft endorsement advice and draft effects study report on IFRS 9 Financial Instruments (replacement of IAS 39).
	EFRAG noted in the introduction to its Invitation to Comment on the draft endorsement advice and the draft effects study report issued on 2 November 2009, that it had based its draft endorsement advice and draft effects study report on the pre-ballot draft of IFRS 9 Financial Instruments provided to EFRAG by the IASB on a confidential basis.  On 2 November 2009 the near-final draft of IFRS 9 was published by the IASB on its website for subscribers. EFRAG has compared the text of the pre-ballot draft with that of the near-final draft of IFRS 9 and would like to inform constituents that changes that the IASB has made do not require EFRAG to modify its analysis and conclusions in the draft endorsement advice and the draft effects study report at this stage. It is expected that EFRAG will finalise its endorsement advice and effects study report at its meeting on 16 November 2009 where it will review and evaluate the comments it will receive from constituents.  EFRAG would like to remind constituents that the comment period closes on 13 November.
Linked Project : click here