IFRS 9 Session will help participants understand key potential impacts and through case studies provide implementation guidance and lesson learned on below:
Reported credit losses will be affected and become more volatile under the new expected credit loss model. The number and complexity of judgements is also expected to increase.
Classification of financial assets will be more judgmental and will affect how capital resources and requirements are calculated.
Hedge accounting will be aligned with risk management and a broader range of hedging strategies will be available.
New disclosures are required – system and controls changes will be necessary to capture the required data.
IFRS 15 Session will help participants understand key potential impacts and how to practically apply the standard specially on:
Identify whether any services promised in contracts meet the new “distinct” test and need to be accounted for separately. Case studies on credit loyalty programs, deal advisory arrangements and personal banking services
Review pricing structures and see if there are variable consideration and how to then decide on estimation method and apply any constraints. Case studies on management fee, performance fee and transaction-based fee
Other impacts including on timing of revenue, up-front fee, costs of obtaining contracts etc
IFRS 16 Session will help participants understand key potential areas and how to practically apply them specially:
Which leases shall be recognized and reviewing terms of contracts associated extensive branch network, call centers, contracts over ATM networks and data storage facilities
How unwinding of interest rate on lease liabilities and amortization of tangible assets recognized will affect the financials