This IFRS newsletter reports on the latest discussions on impairment of financial assets.
When measuring expected credit losses under IFRS 9 for revolving credit facilities – such as credit cards – determining the period of exposure presents challenges.
The IASB discussed this issue – which was previously raised by the ITG –
at its February meeting. Read Issue 4 of our IFRS Newsletter: IFRS 9 Impairment for more detail on the discussions.
The IASB staff provided a summary of the relevant requirements of
IFRS 9 and observations made by ITG members’ at their previous meetings.
This included the following.
The staff informed the Board of their intention to develop educational material on this and other challenging areas – should the need arise – to support IFRS 9 implementation.
Visit our IFRS Newsletters page for access to our latest newsletters on a range of major IFRS topics, including financial instruments and IFRS for banks and insurers.
© 2019 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 15 Canada Square, London, E14 5GL, UK.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.