IFRS 9: Addressing each phase of the replacement of IAS 39 with IFRS 9

AxiomSL | IFRS 9: Addressing each phase of the replacement of IAS 39 with IFRS 9

When: Nov 3-4, 2015
Where: London, United Kingdom

AxiomSL will be gold sponsor at the Centre for Financial Professional (CFP) IFRS 9 conference taking place in London in November 2015. AxiomSL’s Fraser Hall (Head of Service Delivery, EMEA), will be participating in a keynote panel discussion entitled ‘Reviewing the transition from IAS 39 to IFRS 9 and what this means for the organisation’ and will host our own booth over the space of the two-day conference.

In the aftermath of the 2007/8 financial crisis, current IAS 39 models were heavily criticised and significantly reformed to create IFRS 9 reporting standards.

Financial institutions now coming under increased scrutiny by the regulators to implement the standard ahead of the 1st January 2018 implementation deadline. The new standard looks to fundamentally re-writes accounting rules for financial instruments, alongside a new approach for financial asset classification and replaced the incurred loss impairment model.

FI’s must view risk management and accounting practices in a whole new light, accounting for new macro economic models and aligning risk and accounting to implement a forward looking structure.

CFP’s IFRS 9 forum will bring together senior risk professionals and accountants, technoloyg providers and consultants together to discuss the critical challenges and opportunities being faced in the implementation of the IFRS 9 standard.

Agenda

The congress will address key topics under IFRS 9 and changes to the accounting standards such as:

  • Understanding the transition from IAS 39 to IFRS 9 and what this means for the organisation
  • Understanding the impact of IFRS 9 classification and measurement implementation on the business
  • Determining appropriate models to use for effective impairment implementation
  • Understanding what is defined as significant credit deterioration and feeding into models
  • Effective sourcing of granular data for impairment calculation and macro economic indicators
  • Reviewing and understanding

AxiomSL to speak in introductory panel entitled ‘Reviewing the transition from IAS 39 to IFRS 9 and what this means for the organisation’

Fraser Hall (Head of Service Delivery, EMEA) will provide a technological perspective on data challenges, reporting requirements and risk and finance integration in IFRS 9 compliance. He will be joined by Société Générale and Barclays to discuss and debate five bullet points:

09:00 – ‘Reviewing the transition from IAS 39 to IFRS 9 and what this means for the organisation’

  • Planning and executing the IFRS 9 implementation programme
  • Understanding the roles of risk and finance departments in the programme
  • Integrating other stakeholders (business, IT etc.) into the effort
  • The Board and strategic implications of transition to IFRS 9
  • Implementing changes in processes and procedures under new regime

Come and visit our booth

We will have our own booth, so if you would like to learn more about how AxiomSL works, or would like to discuss the latest developments relating to IFRS 9 or any other regulation, please come by and visit.

Five questions to consider when implementing IFRS 9

It is over a year since International Financial Reporting Standard 9 (IFRS 9) was published. Questions still remain about how some aspects of the standard should be interpreted. However, there is no doubt IFRS 9 will have a major impact on accounting practices by placing a new emphasis on the expected performance of financial assets.

Fraser Hall outlines five key questions that firms should focus on in order to implement IFRS 9 in the most effective and efficient way…

Read more