Role of the Board in IFRS 9 implementation part 1

The board provides insights that the management may lack. For this reason, experienced and exposed people sit on board. Boards are helped by committees which have technical skills and expertise in the subject matter. For IFRS 9, the audit committee of the board plays a critical role in IFRS 9 compliance. The board and its […]

Transition in the Expected Credit Loss (ECL) model, part 1

As financial institutions still battle to report Quarter one provisions, many CFOs are still worried by the huge impairment provisions. The newly adopted International Financial Reporting Standards Nine (IFRS9) seeks to address the short comings of the International Accounting Standard 39 (IAS 39) in terms of recognition and measurement. The key emphasis brought about by […]