IFRS 9 – Financial Instruments

Since the first discussions in 2008, and once again exemplified in the publication of the regulation ´IFRS 9 – Financial Instrument’ by the IASB in July 2014, it is clear that the new accounting and valuation rules for financial instruments signify the need for a fundamental change in the banking sector. The new regulations set forth must be implemented by 01/01/2018. This deadline presents significant challenges for the majority of European banks and financial institution, particularly in functional, procedural, technical, organisational, and strategic areas. Therefore, the implementation of these regulations requires time, professional and technical expertise, a robust transformational plan, as well as a validated approach to cover all dimensions.
The following report contains the business requirements, in particular the strategic, organisational, procedural and functional challenges posed by IFRS 9. This report prioritizes classification, measurement and impairment, particularly concentrating on our proven IFRS transformation approach, as well as the critical success factors which will be essential for the effective implementation of IFRS 9 requirements.