In the aftermath of the GFC, the G20 decided that the existing international accounting standards (IAS 39) did not sufficiently identify potentially severe credit risk scenarios and a revised standard was called for. The new standards, called IFRS9, were finalised in 2014 with an implementation date of January 2018 for most companies that must comply. For Australia, this includes all companies – not just listed entities.
At Connected Analytics, we have a team of experienced professionals who can support your transition to IFRS9 compliance. Typically, this would incorporate advice (IFRS9 Advisory) accompanied by either Model Development or Model Validation. Our team can then facilitate the implementation of changes into the relevant operational environments, as well as the creation of an appropriate monitoring and reporting environment.
Through our partnerships with SAS and Amazon Web Services, we also offer a range of cloud-based solutions for IFRS9 – I9aaS (Software as a Service). This enables organisations to access superior IFRS9 outcomes to suit their budgetary needs, and minimise the need for significant investment in internal capabilities and skill sets
Where appropriate, we structure a team of experts with a nominated Engagement Manager to facilitate a smooth and coordinated relationship through the engagement.
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