This webinar will focus on wider accounting and financial reporting considerations under IFRS9 as a result of COVID-19. This is the second webinar brought to you by ICAEW Financial Services on this issue.
The PRA’s Dear CEO Letter, issued on Friday 26 March, provided guidance for financial institutions on consistent and robust IFRS 9 accounting across the assessment of significant increases in credit risk and estimating expected credit losses (‘ECL’) due to COVID-19. The IASB has also issued a document regarding the application of IFRS 9 during this period of enhanced economic uncertainty as have the EBA, ECB and ESMA.
The application of IFRS 9 during COVID-19 continues to be an area of increased focus. The webinar, led by Mark Spencer, Director and Accounting Advisory Services’ Leader from BDO, will cover the following areas and provide the latest thinking on these topics as at the end of June 2020:
- Application of IFRS 9 during periods of enhanced economic uncertainty (e.g. how probability of default (‘PD’) and the loss given default (‘LGD’) may be impacted)
- Treatment of payment holidays and similar schemes
- Treatment of borrowers who breach covenants due to Covid-19
- Regulatory capital treatment of IFRS 9