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an you please explain the statement “IFRS 9 retains the flexibility that existed in IFRS 7 Financial Instruments: Disclosures
to determine the amount of fair value change that relates to changes in the credit risk of the liability”.It is from examiner answer from 2012 June Question 3 b.
Hi
I don’t really believe that you need to know the comparison between IFRS 9 and IFRS 7.
The examiner is merely seeking to identify that the disclosure requirements (and alternatives) under 9 are pretty similar to those previously required by 7
Just to be sure, I looked this up on the internet. I put into Google “IFRS 9 GOVERNING PROVISIONS FOR LOAN LOSSES”
Google came up with a number of options the second one of which was “IFRS 9 Financial instruments Status update – IAS Plus
http://www.iasplus.com”I checked there and came up with a table of treatments at the top of page 5.
Could you please do the same – it will save me from having to type it all out!
Cheers
Mike
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