IFRS 7 Financial Instruments: Disclosures

The objective of IFRS 7 is to require entities to provide disclosures in their financial statements that enable users to evaluate:
(a) the significance of financial instruments for the entity's financial position and performance; and
(b) the nature and extent of risks arising from financial instruments to which the entity is exposed at the reporting date, and how the entity manages them.

EFRAG published its final comment letter to IFRS 7 on 8 November 2004 and its endorsement advice on 5 October 2005.