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Compliance Services

IFRS 9

We'll help you build a solid and clear path to compliance.

We'll help you build a solid and clear path to IFRS 9 compliance.

IFRS 9 is effective for annual periods beginning on or after 1 January 2018. But don't worry, our team of credit risk specialists can get you there.

With new complex regulations governing provision requirements through IFRS 9, businesses are challenged to adapt to and adopt the new rules.

The matter of provisions brings together the sometime detached risk and finance departments. Businesses need assistance in bringing together these two worlds.

Principa IFRS 9 Compliance Services

Our IFRS 9 Compliance Services support you on the journey to compliance through any of the following 4 options of engagement:

1. Closing a temporary gap in skills or resources
IFRS 9 will likely require out of the ordinary levels of analytics.

Let Principa boost your analytical pool or capability.

We've helped over 150 companies in 30 countries improve their profitability and minimise risk across their credit lifecycle.
2. Advising and Mentoring
Do you have your own internal resources?

We'll be glad to support in an advisory role by mentoring and advising you through the process to becoming compliant using your own internal resource.
3. Reviewing
Do you already have an audited IFRS 9 implementation behind you?

A further independent review by our team can ensure that your solution would pass compliance checks across auditors and that it adequately represents business needs with the appropriate trade-off between business needs and conservative application of IFRS 9 principles.
4. End-to-End Implementation
Need a comprehensive solution?

We can take over the entire process for you, covering all development principles and provision calculations, the supporting models, reporting and governance.

Are you familiar with the IFRS 9 framework?

The IFRS 9 framework introduces a number of new principles into bad debt provisioning that would require lenders to change the provisioning methodology and possibly some business practices in order to remain compliant.

The IFRS 9 compliance framework and key considerations for retail unsecured lending are detailed below.

IFRS9 All you need to know

Click here to view the full IFRS 9 Infographic

 

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Benefits that Principa deliver

  1. Cost-savings that can be uncovered in the process,

  2. Knowledge-transfer of IFRS 9, risk provisions, and financial models,

  3. Closing of a temporary analytical capacity shortfall created by the IFRS 9 compliance analytical demands,

  4. Deployment of models in our proprietary decisions engine, DecisionSmart.

The compliance deadline is fast approaching.
So, what are you waiting for?

Let's get you on to a solid path to IFRS 9 compliance.
Contact us to discuss and schedule a preliminary assessment.

Contact us