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IFRS 9: impairment for banks and similar entities
In this webcast, our panel discusses the new impairment requirements in IFRS 9 Financial Instruments and what this means for banks and similar entities with significant credit risk exposures.
In July 2014, the International Accounting Standards Board (IASB) issued the final version of IFRS 9 Financial Instruments, bringing together the classification and measurement, impairment and hedge accounting phases of the IASB’s project to replace IAS 39 Financial Instruments: Recognition and Measurement. The standard is effective for annual periods beginning on or after 1 January 2018, with early application permitted.
The new impairment requirements will have a major impact on many entities, especially banks. Such entities should recognise that the new model will require significant development of systems and processes. It is critical to start planning an initial assessment of the likely impact of the new IFRS 9 expected credit loss model to manage a successful transition and implementation.
In this webcast, our panel will discuss the new IFRS 9 impairment requirements and what this means for banks and similar entities with significant credit risk exposures. This includes:
- Key principles of the expected credit loss model for loans and bonds
- Key changes from the exposure draft
- Significant interpretation issues and practical implementation issues
- The impact and implications for banks and similar entities.