Month: May 2019

IFRS 9 & 16 Masterclass to Reduce Your Compliance Costs and Meet Regulatory Requirement By The Regulator

On 19th February 2019, the Central Bank of Uganda issued an Instruction Circular ‘EDS.306.2’ to Supervised Financial Institutions (SFIs). Through the Executive Director supervision, Bank of Uganda sent the guidance note on implementation aspects of IFRS 9 to Chief Executives of Commercial Banks, Credit Institutions and Microfinance Deposit Taking Institutions. The Instruction Circular requires the …

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A quick overview of IFRS 9

Issued: in 2009; followed by amendments Effective date: 1 January 2018 IFRS 9 replaced IAS 39 Financial Instruments: Recognition and Measurement. What  IFRS 9 (International Financial Reporting Standards Nine) does It prescribes the rules for recognition, measurement (including impairment), derecognition of financial instruments and hedge accounting. It classifies financial assets into 2 categories: Financial assets …

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