The International Accounting Standards Board is giving companies two additional years to apply some new rules for financial instruments to allow more time for all areas of financial instrument accounting to be updated and applied at once.
The IASB delayed the mandatory effective date of International Financial Reporting Standard 9: Financial Instruments from Jan. 1, 2013, to Jan. 1, 2015. IFRS 9 was published in November 2009 specifying new requirements for how companies would classify and measure financial assets.
