Seminar “IFRS 9 for banks”

On 23 April 2015 PwC Academy in cooperation with ACCA Ukraine, Baltic and Caucasus States and the National Centre for the Training of Bank Personnel of Ukraine held a seminar “IFRS 9 for banks”

The seminar was delivered by:

• Lyudmyla Pakhucha, partner PwC Ukraine
• Iryna Moskovchuk, senior manager PwC Ukraine

The seminar covered the following topics:

• IFRS 9 requirements on classification and measurement of financial instruments, including evaluation of the business model and analysis of the contractual cash flows (SPPI test) 
• New model of expected credit losses; 
• Practical aspects of expected credit losses model, in particular actions to be taken in preparation for implementation of the model; 
• Evolution of the standard and its correlation with existing business practices of Ukrainian banks; 
• Disclosure requirements of IFRS 9 and their comparison with existing reporting practices; 
• Effective  date  and transition to the new standard.

The seminar was attended by about 20 people from different Ukrainian banks. The seminar provided participants with the opportunity to both obtain new knowledge and discuss pressing issues of the banking business in Ukraine.