A number of IASB standards are particularly relevant to financial stability, for example IAS39 financial instruments.

A number of IASB standards are particularly relevant to financial stability, for example IAS39 financial instruments. As part of IASB’s responses to the GFC, the IASB amended IAS39 during the crisis to allow for reclassification of financial instruments. Identify and analyse what are the potential problems associated with this accounting standard, the IASB’s actions to improve this standard?(please with references)