IFRS 9 and IFRS 17

Overview

IFRS 9 and IFRS 17 are two significant International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) that have a profound impact on financial reporting in the banking and insurance industries, respectively. This specialized course is designed to provide finance professionals, accountants, auditors, and business leaders with a comprehensive understanding of both IFRS 9 and IFRS 17 and their implications for financial reporting and analysis.

IFRS 9, Financial Instruments, addresses the classification and measurement of financial assets and liabilities, impairment of financial assets, and hedge accounting. The standard introduces a principles-based approach to classifying financial instruments and requires entities to assess the expected credit losses on financial assets using an expected credit loss (ECL) model.

IFRS 17, Insurance Contracts, governs the accounting treatment of insurance contracts and introduces a comprehensive framework for recognizing, measuring, presenting, and disclosing insurance contract liabilities. The standard aims to provide users of financial statements with better information about an insurer's risk exposure, financial performance, and financial position.

Throughout the course, participants will delve into key topics related to both IFRS 9 and IFRS 17, including the scope and objectives of the standards, recognition and measurement principles, presentation and disclosure requirements, and transition and implementation considerations. Emphasis is placed on understanding the fundamental changes introduced by both standards and their impact on financial reporting and analysis in the banking and insurance industries.

Overall, the IFRS 9 and IFRS 17 course empowers participants with the knowledge and skills necessary to understand, interpret, and apply both standards effectively in financial reporting. By mastering these essential concepts and techniques, participants can enhance their ability to comply with global accounting standards, accurately report financial transactions, and make informed financial decisions based on transparent and reliable financial information in the banking and insurance industries.