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Are You Underestimating IFRS9?

With the introduction of International Financial Reporting Standards 9 (IFRS 9) in January 2018, banks will have to change the processes that currently calculate their credit impairments. The new regulation changes the way credit losses should be recognized. Currently, impairments are based on “incurred losses”; IFRS 9 introduces a model based on future expectations, or expected credit losses (ECL).

IFRS9 is a complex journey that is changing the way firms account for their provisioning activities, manage risk and their data. How to get started? And what steps can you take to ensure you are prepared for IFRS 9 compliance? Browse around and learn more about the major implications on banks.

The road to 2018 compliance

With the transition from IAS 39 to IFRS 9 fast approaching,
Risk.net explores how the introduction of IFRS 9 is set to fundamentally change
the way banks do their accounting.

IAS 39 was based on the incurred loss model, whilst IFRS 9 will now focus
on the expected loss model; this has given rise to a host of challenges.
The expected credit loss (ECL) model for the impairment of
financial instruments will have a significant impact on the way
banks account for credit losses on their loan portfolios, and on the
related systems and processes. Even the board is set to focus more of
their attention on the IFRS 9 Expected Credit Loss (ECL) model
as compared to those under Basel.

This webinar will delve into the intricacies of the new standard
and look into the major implications on banks and how best to prepare
for the road ahead to IFRS 9 compliance.

Webinar: The final countdown to IFRS 9 for banks

The webinar will look at IFRS 9, the requirements, challenges and impact for financial institutions and how SAS can help with the implementation. And it points out what’s beyond the financial reporting standards.

Navigating the route to IFRS 9 compliance
Achieving Optimal IFRS 9 Compliance
Achieving Optimal
IFRS 9 Compliance

IFRS 9 will have a substantial financial impact on banks and involve significant implementation challenges. But with optimal compliance, banks can achieve an acceptable financial impact in a way that minimizes effort but is still sufficiently prudent to ensure compliance. However, to achieve this goal, banks will need substantial support from technology. In this paper, we explore the software functionality needed to support the banks seeking optimal IFRS 9 compliance.

Navigating the route
to IFRS 9 compliance

IFRS 9 represents a convergence between accounting and regulatory standards and introduces a range of complexities and uncertainties that need careful consideration and planning

Read how you can achieve an acceptable financial impact in a way that minimizes effort but is still sufficiently prudent to ensure compliance. On this journey you will need substantial support from technology. Find out which software functionality is needed to support banks seeking optimal IFRS 9 compliance.

Navigating the route to IFRS 9 compliance
Videos

IFRS 9 Impairments

IFRS 9 requirements will be effective Jan. 1, 2018. Peter Plochan, SAS Risk Management Specialist, shares best practices and real cases based on international experiences.
Watch now

Model Risk Management

The proliferation of models to be managed(Basel, stress test, IFRS 9, etc) increase the need for an enterprise approach of the Model Governance. Best practices and real cases are shared by Peter Plochan, SAS Risk Management Specialist.
Watch now

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