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8 October 2015
Bruxelles, Blu Radisson Brussels Luxembourg
Thursday 8 October
Avantage Reply will sponsor the next PRMIA
IFRS 9 event taking place in Bruxelles.
The Internal Accounting Standards Board (IASB) completed the final element of its comprehensive response to the financial crisis with the publication of IFRS 9 Financial Instruments in July 2014. The package of improvements introduced by a substantially-reformed approach of hedge accounting.
The IASB has previously published versions of the IFRS 9 that introduced new classification and measurement requirements (in 2009 and 2010) and a new hedge accounting model (in 2013). The July 2014 publication represents the final version of the Standard, replaces earlier versions of IFRS 9 and completes the IASB’s project to replace IAS 39 Financial Instruments: Recognition and Measurement.
IFRS 9 is effective for annual periods beginning on or after 1 January 2018.
IFRS 9 will then cause a major change in the way in which banks account for credit losses; moving from backward looking into forward looking expected loss approach. This could affect banks ’reported solvency and profitability as well as requiring changes to existing Accounting and Credit Risk Processes. Therefore the impact on the industry is expected to be significant, as well as for Insurance and Corporate companies
7:30 PMQ&A Session
8:00 PMDrink and Networking
click here to register.