Financial Instruments with Characteristics of Equity

The IASB's work plan includes a number of projects, which date back over several years, and which it is hoping to conclude in 2025 or 2026. Financial Instruments with Characteristics of Equity (FICE) is one of these projects that is now nearing completion. Drawing on a breakout session on financial instruments at the IFRS Foundation Conference 2025 and subsequent developments at board meetings, this article provides an update on the project.