BANKING CRISIS

摘要

It's no secret that the countdown is now on for the implementation of the new, global accounting standard, IFRS 9, Financial Instruments, which must be implemented and fully compliant by January 2018. Among other things, IFRS 9 addresses how to recognise and account for credit losses (impairment) and will require serious thought, cooperation and investment from the industry, not only to meet the requirements but also to reach the end goals that it has been designed to achieve. The new standard is a distinct departure from the current IAS 39, Financial Instruments: Recognition and Measurement, in that it focuses on accounting for expected credit losses as opposed to incurred losses.