Delay to Mandatory Effective Date of IFRS 9 – ACT submission to the IASB

The IFRS 9 hedge accounting exposure draft, although not yet final, has a number of positive changes for corporate treasurers.

The ACT agree with the postponement of the mandatory effective date of IFRS 9 and welcome the flexibility of the IASB allowing corporates to early adopt. However we also note that companies that reside within the European Union cannot legally apply IFRS 9 until it is endorsed by the European Commission.