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.
- About the author
- Rationale for IFRS 9
- IFRS 9 impairment model
- Key challenges in IFRS 9 implementation
- IFRS 9 implementation key considerations
- 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