Assessing the financial and reporting implications of IFRS 9 requirements implementation

Assessing the financial and reporting implications of IFRS 9 requirements implementation

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 As of 1st January 2018, financial institutions have been involved in analysing and adapting to changes in the classification of financial assets, developing impairment models for financial instruments and adjusting hedging relationships with respect to revised requirements. These changes are accompanied by extensive changes to the disclosures.  

IFRS 9 is an accounting standard, but considering the implications of the new Expected Credit Loss (ECL) requirements, provides opportunities to achieve alignment between the risk and accounting functions. Such an alignment would benefit in many ways – in terms of economies of scale, developing a standard way of measuring credit risk across the financial institution, integrating data sources, achieving unified modelling and processes, and streamlined reporting.

The new ECL model promoted by IFRS 9 standards also helps financial institutions to arrive at a more accurate provisioning, requires them to monitor assets closely and to keep an eye on the evolving risk profiles of customers and generate data at a more granular level.

OBJECTIVE

The course is designed to familiarize the participants with the fundamental changes derived from the application of the IFRS 9 standards within the financial institution’s activities.

AUDIENCE

This lecture is specially addressed to bank specialists involved in risk management, financial and reporting, commercial business leaders, management members, internal audit, etc.

CONTENTS

  • Classification and measurement of financial instruments
  • Modifications and write-offs
  • Impairment of financial assets (in brief)
  • Hedge accounting
  • Disclosures

LECTOR

Andrada Tănase, FRM, ACCA

Andrada Tanase is Manager within FSI Risk and Regulatory Advisory Department practice. She has 8 years of experience in risk advisory, financial reporting, IFRS and Basel III implementations and FSI audits in the banking and insurance sector.

DATE

October 17, 2019, from 9:00 to 17:00 

RBI will hold the course on its premises, providing specialised lecturers, course materials and catering services during the training day.

CERTIFICATION: certificate of attendance                                   

CONTACT

Emilia Frunză, Training manager

Mobile phone: 0748886834

e-mail: emilia.frunza@ibr-rbi.ro

 

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