The International Accounting Standards Board (IASB) has published an exposure draft proposing to push back the mandatory effective date of IFRS 9 Financial Instruments from 1 January 2013 to 1 January 2015.

The Board seeks to align the effective dates for all phases of the project (both completed and ongoing). The proposed deferral would only change the date when IFRS 9 would be mandatory. Entities could still elect to use IFRS 9 before 2015.

Comments on the exposure draft are due on 21 October 2011.