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IBFed Response on Revision of the Guidance for Sound Credit Risk Assessment and Valuation of Loans

23 Dec 2014

The banking industry supports the objective to implement and maintain the impairment requirements of International Financial Reporting Standard 9 (IFRS 9) in a robust and consistent way both across similar portfolios within an institution as well as over time. To achieve consistency and ensure meaningful and relevant financial reporting, banks will have to integrate the expected loss accounting model into their internal processes and systems. In many instances, bank credit risk management processes and systems will require significant modification in order to ensure high quality implementation. This will involve the disciplines associated with financial reporting being built into the expected loss processes that will sit at the heart of the adherence to IFRS 9.

IBFed Response on Revision of the Guidance for Sound Credit Risk Assessment and Valuation of Loans
 
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