International Financial Reporting Standard 9 (IFRS 9) will fundamentally change accounting practices by requiring firms to consider the impact of possible future events when calculating their capital provisions. With implementation set for 1 January 2018, firms have a number of significant challenges to overcome, including:
- accommodating the differing demands of risk and finance
- managing large volumes of risk and financial data, which must be refreshed at more regular intervals than ever before
- installing larger, more dynamic databases, which are open to external data
This white paper reveals how AxiomSL’s integrated, data-agnostic platform addresses these challenges and others created by IFRS 9. Written by Shlomo Cohen, AxiomSL’s Risk Subject Matter Expert (SME), it explains why AxiomSL is uniquely positioned to provide both the controlled environment required by accounting and the flexibility required by risk.
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