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Many entities may have already reported the second full-year financial statements using IFRS 9 Financial Instruments to determine the Expected Credit Losses (ECL) for their financial assets. Now is therefore a good time to review the usefulness of information related to ECL that entities are likely to disclose.
In this webcast for investors, Sue Lloyd, Vice-Chair of the International Accounting Standards Board, and Sid Kumar, CFA, technical staff member responsible for investor engagement, outline the information that entities will provide about ECL in their financial statements and notes prepared using IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures.
Sue and Sid use illustrative examples to explain the new loan loss allowance recognition and measurement model and related disclosures on ECL. Investors may find this information useful in analysing the ECL balances of entities that are most likely to be affected by IFRS 9, such as banks and financial institutions.
This webcast was recorded before covid-19 was declared a pandemic and started affecting the global economy. In March 2020, we published educational materials for entities on loan loss accounting in the light of covid-19, which investors may also find useful.
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