The IFRS Interpretations Committee has requested comments on its tentative decision about Cash Received via Electronic Transfer as Settlement for a Financial Asset (IFRS 9), and weather an entity can derecognize financial assets (trade receivable) and recognize cash on the date the cash transfer is initiated.
SOCPA agrees with the Committee's Decision that "determining the date on which the entity’s contractual rights to those cash flows expire is a legal matter, which would depend on the specific facts and circumstances including the applicable laws and regulations and the characteristics of the electronic transfer system".
But in general and in accordance with the requirements of IFRS 9, an entity should derecognize financial assets (trade receivable) on the date on which its contractual rights to the cash flows from the trade receivable expire, and should recognizes the cash received as settlement for that trade receivable on the same date.

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