Ahead of our upcoming IFRS 9 Forum 2015 we would like to share the following article provided by Aptitude Software who will also be participating at the Forum in London, 3-4 November.
The new IFRS 9 standard is expected to significantly increase the workload across diverse functional groups such as risk and finance. In this post, we take a look at how Finance Departments will be affected by IFRS 9 and where they will encounter challenges.
In July 2014, the International Accounting Standards Board (IASB) published the final version of the IFRS 9 Financial Instruments standard. Designed to replace IAS39, it introduces a new model for the classification and measurement of financial assets, a single expected loss impairment model that will require recognition of current expected credit losses (CECL), stretching to asset lifetime, and a reformed (as yet in progress) approach to hedge accounting.
Read the full article here.
