International Financial Reporting Standard 9

Supporting your journey towards IFRS 9 compliance

Are you ready for IFRS 9?

The deadline for International Financial Reporting Standard 9 (IFRS 9) adoption is fast approaching.  From 1 January 2018, all Financial Services organisations will need to ensure they have robust impairment models and processes in place to ensure full compliance with requirements.

What is IFRS 9?

IFRS 9 is a new far reaching regulation that will change the way financial services organisations classify, measure and account for assets.  It encompasses:

  • A logical model for classification and measurement
  • A single forward looking ‘Expected Loss’ impairment model
  • A substantially reformed approach to hedge accounting

Understanding the size and scale of the challenge

What makes IFRS 9 compliance challenging is that it will require the collection, use and tracking of information not previously used in existing impairment modelling or regulatory approaches.  The availability, quality and understanding of credit risk data and the associated tools used to analyse it will make the difference between success and failure. 

Experts at delivering complex compliance solutions

We are experts in delivering complex end-to-end compliance solutions.  Our proven track record of dealing with new and emerging regulation means we can be trusted to deliver accuracy and excellence on time and to budget. We have combined our expertise with world-class software from Sopra Banking to deliver a highly comprehensive, scalable and flexible solution to support ongoing IFRS 9 compliance.

Scalable and flexible IFRS 9 solutions

We have developed a range of specialist solutions and services to meet the needs of different types of organisations.  All effectively manage the data, analytics and technology required for day 1 IFRS 9 compliance as well as the activities moving forward.  

  • Our basic solution empowers IFRS 9 compliance with manual corrections and co ordination
  • Our intermediate offering delivers compliance using automation and high data quality control in a stand alone solution
  • Our top level integrated service offers an agile and synchronized solution, based on large data sources and references to deliver a fully integrated and automated risk, regulatory and financial reporting solution

image scaleable solutions - described above


Interested?

Find out how Sopra Steria can transform your credit risk function and support your journey towards IFRS 9 compliance

Get in touch:

By email or call us on +44 (0) 370 600 4466

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