text: **Future Accounting Policy Changes**
  
  IFRS 9 ‑ Financial Instruments (“IFRS 9”) 
  
  IFRS 9, as issued in 2010, reflects the first phase of the IASB’s work on the replacement of IAS 39 and applies to classification and measurement 
  of financial assets and financial liabilities as defined in IAS 39. The standard was initially effective for annual periods beginning on or after January 
  1, 2013. In November 2013, Chapter 6 of IFRS 9 on hedge accounting was published. At the same time, Chapter 7, containing the effective date 
  and transition provisions, was amended to remove the mandatory effective date of IFRS 9. This was intended to provide sufficient time for 
  preparers to make the transition to the new requirements. The Company may still choose to apply IFRS immediately, but is not required to do so. 
  
  In subsequent phases, the IASB is addressing impairment of financial assets. The adoption of the first phase of IFRS will have an effect on the 
  classification and measurement of the Company’s financial assets, but will not have an impact on the classification measurements of financial 
  liabilities. The Company is in the process of assessing the impact IFRS 9 may have on future financial statements. 