(2)On 24 July 2014, the International Accounting Standards Board (IASB) published International Financial Reporting Standard (IFRS) 9 Financial Instruments . The standard aims to improve the financial reporting of financial instruments by addressing concerns that arose in this area during the financial crisis. In particular, IFRS 9 responds to the G20's call to move to a more forward-looking model for the recognition of expected losses on financial assets.