What is IFRS9?

IFRS 9 (International Financial Reporting Standard 9) is an international accounting standard that addresses the accounting for financial instruments. It replaces IAS 39 Financial Instruments: Recognition and Measurement. IFRS 9 covers the classification and measurement of financial assets and financial liabilities, impairment of financial assets (including a forward-looking expected credit loss model), and hedge accounting. It is commonly used by financial institutions and other companies that hold significant financial instruments to accurately reflect the risks associated with those instruments on their financial statements.