Financial Instruments – IFRS 9 standard in practice

Financial Instruments – IFRS 9 standard in practice

 Sigla_IBR_2017  deloitte logo new 

IFRS 9 has been an important topic in the banking sector over the last two years and has become even more important since the date of its implementation, January 1, 2018. The final version of IFRS 9 reunites the stages of Classification and Measurement, Impairment, as well as accounting for covering the risks from the IASB project for replacing IAS 39 Financial Instruments: Recognition and Measurement.

IFRS 9 is an accounting standard; however, it has a significant impact on the banking sector’s risk management and business model.

OBJECTIVE

The purpose of this seminar is to offer an overview on IFRS 9 requirements, the amendments made to the IAS 39 standard, as well as its impact on the bank’s governance once it is implemented.

By the end of the seminar, the participants will have an overview of the IFRS9 requirements, which are generally applicable for Classification and Measurement, as well as Impairment; they will understand the key changes compared to previous rules (IAS 39) and prudential requirements (Basel); they will understand the key challenges encountered in practice in the banking sector during the implementation; they will have an overview regarding the impact on the bank’s activity subsequent to the transition date.

AUDIENCE

This seminar is addressed to specialists in the financial-banking sector involved in accounting/methodology and credit risk management, whose activity is impacted by the implementation of IFRS 9.

CONTENT

Classification and Measurement – key points

·      The objective and scope of IFRS 9

·      Categories of financial assets and business models

·      Contractual cash flows – SPPI criterion

·      Reclassifications

·      Practical issues with Classification and Measurement

 

Impairment – practical exercise

Overview of the new Impairment requirements and differences vs IAS 39

·       Expected credit loss replaces incurred loss model

·       Impairment measured as either:

–   12-month expected credit losses; or

–   Lifetime expected credit losses

·       Analysis of best practices regarding methodology and implementation

Reporting requirements and presentation of the information in the financial statements following the implementation of IFRS 9 – key aspects

 Impact of IFRS 9 on the bank’s activity subsequent to the date of transition:

•          Integration of IFRS 9 models into credit risk management

•          Validation exercise

•          2018 stress-test exercise

LECTURERS

Elena Grigore

Elena is a Senior Manager in Deloitte, within the Risk and Financial Services Regulatory Department. She has 10 years of experience in the field of credit risk management. Elena worked in projects involving methodological development and technical implementation of AIRB/IFRS 9 requirements, as well as internal credit risk management models for financial institutions in Romania and beyond.

Andrada Tănase, ACCA

Andrada Tănase is a manager in Deloitte, within the Risk and Financial Services Regulatory Department. She has over 6 years of experience in credit risk management consulting, IFRS implementation and audit of clients from the financial services field.

DATE: March 21, 2019, between 9:00 – 17:00     

PLACE: the headquarters of the Romanian Banking Institute, no. 3 Negru Vodă Street, sector 3, Bucharest

CONTACT: Emilia Frunză, Training Manager; 0748 886 834; emilia.frunza@ibr-rbi.ro

At the end of the course, the participants receive a certificate issued by the Romanian Banking Institute (RBI), under the aegis of the founding members of the National Bank of Romania (NBR) and the Romanian Banking Association (RBA), with 7 CPD credits (Continuous Professional Development), useful for members of professional associations.

Name*

Institution

Department

Position

Phone number*

Fax

E-mail*

Course*

Comments