IFRS 9
Get set on the path to IFRS 9 compliance through model building or validation
We provide support for all your ongoing compliance tasks
The International Finance Reporting Standard 9 (IFRS 9) requires the recognition of credit loss allowances on initial recognition of financial assets. 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 and have successfully completed numerous projects since 2016, providing solutions ranging from end-to-end provision model building and execution, to audit support, mentorships and model reviews.
Our Services
IFRS 9 modelling
Our IFRS 9 modelling services include the provision of new models and amendmening existing models.
Audit-support
We support our customers during the audit process, assisting them in addressing the demands placed on them by audit firms. Having participated in several projects that require engagement with a number of different audit firms, we are very familiar with the different IFRS 9-related interpretations and approaches.
IFRS 9 mentorship
Through our mentorship programme offering, Principa analysts and consultants have navigated many customers through IFRS 9 and its complexities. We train, coach, mentor, review and support our customers, ensuring they develop the necessary skills to become self-sufficient and efficient.
Provisioning model review
Where a customer’s IFRS 9 implementation has already been audited, we offer an additional independent review to ensure that:
- the solution will pass compliance checks across auditors
- 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
For customers that are new entrants to the local market or a business that requires a comprehensive IFRS 9 solution, we provide the complete end-to-end solution. Our team will manage the entire process, covering all development principles and provision calculations, the supporting models, reporting and governance requirements.
Why use our solutions?
- 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
