Global Credit Data’s Richard Crecel and Daniela Thakkar call for action to understand IFRS 9 and address variability in credit loss estimates in CFO South Africa article
January 7, 2020
Writing for CFO South Africa, Global Credit Data’s Executive Director, Richard Crecel and Membership and Methodology Executive, Daniela Thakkar, outline results from their latest IFRS 9 Benchmarking Report.
As banks’ first financial statements under the new IFRS 9 reporting standard are released, results from the study indicate their Expected Credit Loss (ECL) estimates under the new standard vary wildly – even when assessing identical portfolios of assets. The complex framework, they argue, will require further benchmarking on a larger scale, including developing a range of standard methodologies and reference points.
Read the full article here.
Read the full report here.
TAGS: Financial Services