ASCG comment letter to the IASB on ED/2023/2 (Amendments to IFRS 9 and IFRS 7)

The ASCG have submitted its comment letter to the IASB as regards the Exposure Draft ED/2023/2 (Proposed amendments to IFRS 9 and IFRS 7).

Therein, the ASCG comments on the various proposals, which are generally supported. However, the Financial Reporting Technical Committee deems some of the proposals being not yet sufficiently clear and consistent or less decision useful. As regards finalisation and transition/initial application of these amendments, we suggest the IASB to unbundle the amendments, thereby allowing for an early application of those amendments deemed urgent while granting more time for others whose implementation appear technically challenging.

In addition, we are in favour of including current matters relating to the accounting treatment of physical and virtual power purchase agreements in this standard-setting process, for example in the context of the own-use exemption in accordance with IFRS 9.2.4 et seq.