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Webinar: IFRS9 Best Practice

Chrisitan Düsterberg, Head of Risk Methods and Models for Erste Group Bank, joined the RiskMinds Regulation Digital Week to provide some insights on IFRS9 Best Practice, with a focus on impairment. Christian will also be a part of RiskMinds International, as part of a panel pinpointing the methodological challenges and uncertainties within IFRS9. 

 

Watch the full webinar with Christian:

 

 To download the slides from the presentation, click here.  

 

RiskMinds top take-away insights:

  • IFRS9 concepts are prone to highly theoretic and not yet practical interpretation. The best theoretically desirable approach is not always the best practical one.
  • It is imperative to have close alignment with relevant auditors and regulators
  • Sound internal governance and explicit application of judgement to determine the organisation's interpretation (and choices) in defining its IFRS9 framework is also a must.
  • There needs to be clear definition of "run the bank" or "business as usual" policies and processes in place.
  • Accounting regulators or enforcement agencies have a more specific mandate to ensure correct implementation.
  • It will be best practice to prepare for regular monitoring of likely stage transitions.
  • Harmonized implementation of IFRS9 is easily done with a harmonized IT implementation, but IT implementation will need to be consistent with provision governance and changes documented and approved. 

See all of our snapshot insights on #RiskMindsLive

Interested in IFRS9 and other risk management hot topics? Join the leading risk management event, RiskMinds International in Amsterdam, 4-8 September. 

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