Amendments to the Classification and Measurement of Financial Instruments
(Amends NZ IFRS 9 and NZ IFRS 7)
Amendments to the Classification and Measurement of Financial Instruments is an amending Standard that updates NZ IFRS 9 and NZ IFRS 7.
The amendments provide clarifications on accounting for the settlement of liabilities through electronic payment systems, and on the application of the classification requirements for financial assets, including financial assets with environmental, social and corporate governance and similar features.
It also introduces new disclosures for investments in equity instruments designated at fair value through other comprehensive income, and financial instruments with contingent features.
Commencement and Application
Application of the amendments is required for accounting periods which begin on or after 1 January 2026.
Application is permitted for accounting periods that begin before 1 January 2026 but have not ended or do not end before 25 July 2024.