Financial instruments are important across all reporting entities and even more so in the financial services industry (banks, insurance companies, investment vehicles). But is took until 1995 when IAS 32 (now revised to Financial instruments: Presentation) was issued!
In 1999 IAS 39 was issued for recognition and measurement at a time that was known for increasingly volatile financial markets and more widespread use of innovative and complex financial products.
Various revisions have been made, IAS 32 was partly replaced by … Continue reading
Financial institutions (banks, insurance companies, investment entities) should have a management process in place to identify, measure, monitor and control credit risk as well as to determine that they hold adequate capital against these risks and that they are adequately compensated for risks incurred.
The sound practices should specifically address the following areas:
- establishing an appropriate credit risk environment;
- operating under a sound credit-granting process;
- maintaining an appropriate credit administration, measurement, and monitoring process; and
- ensuring adequate
… Continue reading
The disclosure by holders of crypto-assets will be driven by the disclosure requirements of the IFRS standards that are applied in accounting for them. This narrative illustrates selected disclosure requirements for each classification and measurement in more detail, as well as the general IAS 1 requirements that could be relevant to the holder of crypto-assets.
Holders of crypto-assets need to consider materiality when determining what disclosures are required in their specific circumstances, as well as when to aggregate amounts on … Continue reading
This is a high level summary of the disclosure requirements added to IFRS 7 Financial Instruments: Disclosures that accompanies the impairment model in IFRS 9 Financial Instruments.
Credit risk management practices
An entity is required to disclose:
… Continue reading