IFRS 9 Implementation Methodology Guide

This is the Oracle IFRS 9 implementation methodology guidebook that will help facilitate a smooth transition to the new accounting standards, replacing IAS 39 (International Accounting Standards). IFRS 9 will be mandatory in several countries globally starting January 2018. 

As the deadline approaches there are a number of prerequisites that banks should be paying close attention to, and will cover risk, finance, IT and other parts of the business. 

IFRS 9 requires banks to review and predict credit losses on loans from day 1 and classify all financial instruments into three stages, depending on the change in credit quality. 

Oracle provides a framework for making the calculations needed to ensure compliance. The Oracle Unified Method (OUM) is a proven methodology for IFRS 9 that includes guidance on knowledge transition, and inbuilt approaches for agile delivery in large programs.

Contents

  • About the author
  • Rationale for IFRS 9
  • IFRS 9 impairment model
  • Key challenges in IFRS 9 implementation
  • IFRS 9 implementation key considerations
    • Modeling
    • Cash flow information
    • Accounting integration
    • Models for computing ECL
    • Data management
  • Recommended approach and checklist for IFRS 9 program rollout
  • Stakeholder responsibilities & timeline for IFRS 9 implementation
  • Oracle's proven methodology for IFRS 9 implementation
  • Oracle's consulting framework for IFRS 9 implementation
  • Oracle's solution for IFRS 9

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