Global Standards for the world economy

Wednesday 24 February 2021

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IFRS 9 Financial Instruments (replacement of IAS 39)

Phase III: Hedge accounting

 Financial Instruments—Phase III: Hedge accounting

The final version of IFRS 9 Financial Instruments was published in July 2014. Hedge accounting was the third phase of the IFRS 9 project.

This phase replaced the rule-based hedge accounting requirements in IAS 39 Financial Instruments: Recognition and Measurement to more closely align the accounting with risk management activities. The objective of this phase was to improve the ability of investors to understand risk management activities and to assess the amounts, timing and uncertainty of future cash flows.

Project stages

Board deliberations

Stage 1: Completed November 2008

Issued documents

Stage 2: The Discussion Paper was open for comment until 19 September 2008
Stage 3: The Exposure Draft was open for comment until 9 March 2011

Board deliberations

Stage 5: The staff will proceed to draft the Ballot Draft of the new version of IFRS 9, incorporating the final version of Chapter 6 Hedge Accounting
Stage 6: Completed in November 2013 with the publication of IFRS 9 Financial Instruments (2013)
Stage 7: Completed in July 2014 with the publication of IFRS 9 Financial Instruments (2014)