; IFRS9

IFRS 9 and Covid 19

 

06 – 09 December 2020

9 AM – 12 PM

 
Program 7

The information acquired in this program will help participants understand the broad IFRS implications of Covid-19, in particular IFRS 9 Financial Instruments.

Objectives

Upon the completion of this course, the participants will learn about:

 
  • The broad implications of the effects of Covid 19
  • Covid 19 – Top 5 IFRS Accounting Issues for Banks
  • Application of IFRS 9 in the light of the Covid 19 uncertainty
Target Audience
Bank managers considering the impact of Covid 19 on the bank’s IFRS based financial statements. Bank senior staff involved in the assessment of SICRs (Significant Increase in Credit Risk) and in the measurement of ECLs (Expected Credit Losses). Banking staff who would benefit from a high-level understanding of IFRS 9.
Perquisites
A basic understanding of IFRS and more specifically IFRS 9
Methodology
This is an online course that is conducted using a combination of lectures, discussions and in class exercises.
Course outline

Module 1 – The Broad IFRS implications of the effects of Covid 19

  • Non-financial assets
  • Financial instruments and leases
  • Revenue Recognition
  • Non-financial Obligations
  • Disclosures including financial risk
  • Interim financial statements
  • Adopt New Ways to Working
  • Improve Contact Center Management
  • Enhance and Automate Service
 

Module 2 – Top 5 IFRS Accounting issues for banks due to Covid 19

  • Measuring expected credit losses (ECLs)
  • Identifying significant increases in credit risk (SICR)
  • Modifications and forbearance on loans
  • Interim reporting under IAS 34 and other disclosure considerations
  • Government Relief Programmes (if applicable)
 

Module 3 – Application of IFRS 9 in the light of the Covid 19 uncertainty

The effect of Covid 19 on the 3 main topics covered by IFRS 9:

  • Classification and measurement of financial instruments
  • Impairment of financial assets
  • Hedge accounting
Duration
4 Days – 3 Hours a Day / Total of 12 Hours

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