IFRS 9
Through model building or validation Principa will set you on the path to IFRS 9 compliance
We provide support for all your ongoing compliance tasks.
Since 1 January 2018, businesses and organisations are required to adhere to the International Finance Reporting Standard 9 (IFRS 9). This new Standard requires the recognition of credit loss allowances on initial recognition of financial assets, whereas under the previous Standard (IAS 39), impairment is only recognised at a later stage when a credit loss event has in fact occurred.
Principa is considered a market leader in matters relating to IFRS 9, having successfully completed numerous projects since 2016, providing solutions ranging from end-to-end provision model building and execution, to audit support, providing mentorships and model reviews.
Our Services
IFRS 9 Modelling
Our IFRS 9 modelling services include the provision of new models and amendments to existing models.
Audit-support
We support our customers during what could be described as the dauting auditing process, assisting them in addressing the various demands placed on them by audit firms. Principa has been involved in several projects that required engagement with a number of different audit firms and we are very familiar with the different IFRS 9-related interpretations and approaches.
IFRS 9 Mentorship
Through the Principa mentorship programme offering our analysts and consultants have navigated many customers through IFRS 9 and its complexities. Does your team of analysts need guidance in getting up to speed with IRFS 9? We train, coach, mentor, review and provide support to your team ensuring that they develop the necessary skills to become self-sufficient and efficient.
Provisioning Model Review
Has your IFRS 9 implementation already been audited? A further independent review by our team will ensure that your solution will pass compliance checks across auditors and that it adequately represents business needs, providing for the appropriate trade-off between business needs and the conservative application of IFRS 9 principles.
End-to-End Solutions
Are you a new entrant into the local market? Do you need a comprehensive IFRS 9 solution?
You need to look no further as we can manage the entire process for you, covering all development principles and provision calculations, the supporting models, reporting and governance requirements.
Why use with Principa?
- We have an excellent understanding of IFRS 9, related auditors’ requirements and nuanced interpretations
- Our solutions involve and combine the skills and expertise of advisors and analysts that have vast experience in multiple industries
- We are an independent analytics business and therefore comfortable working with all and any of the audit firms that customers engage
- Being involved in and having successfully completed numerous projects across our continent, we are highly experienced in working in the unique Africa business environment
- We provide cost effective solutions that include both fixed price and time and materials engagements