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Validating International Financial Reporting Standards (IFRS9) for a government-owned bank

Validating International Financial Reporting Standards (IFRS9) for a government-owned bank

Industry: Financial Industry
Year: Year 4 (2017-18)

Under IFRS9 - the new global accounting standard – banks are required to provide forward looking estimates of their expected credit losses.

DBA was engaged by a government-owned bank to analyze the new standard, work with technical specialists to assess if its requirements were being met and devise potential solutions if they were not.

After a detailed methodological analysis, the team at DBA deemed IFRS9 to be fit for purpose but undertook a great deal of work to ensure that the bank complied with its highly technical requirements.

DBA’s work in identifying potential stumbling blocks and providing pragmatic solutions was essential for ensuring the bank’s full compliance.