IFRS 9 will have a substantial financial impact on banks and create implementation challenges. By taking an optimal approach to compliance, banks can balance the financial impact and the effort required and still ensure compliance. To achieve this goal, banks will need significant support from technology. In this paper, we explore the software functionality needed to support optimal IFRS 9 compliance for banks. Across the globe, large financial institutions are working to understand the implications of the latest impairment requirements introduced by IASB1 as part of the IFRS 9 package.
According to a recent Deloitte industry survey (see Figure 1), this single, forward-looking “expected loss” impairment standard will have a significant financial impact for the majority of large banks.3… leer mas….