IFRS 9 from an Auditing Perspective – Implications of the Expected Loss Approach and Local Regulations to Achieve Financial Stability – Malta [ONLINE LIVE SESSION]

40.00 Inc VAT

Thursday 02 July 2020 | 14:00 (Europe/Malta)

Online Live Session

MIA Accreditation | 3 hours Core in terms of the Accountancy Board CPE scheme.

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Description

In the aftermath of the recent financial crisis, there was an increased willingness from global accounting standard setters to work towards the objective of creating a single set of high-quality global standards.

In response to this, the IASB decided to accelerate its project to replace IAS 39, and sub-divided it into three main phases: classification and measurement; impairment; and hedging. This three-stage process to accounting for financial instruments resulted in the development of IFRS 9. This standard contains a new impairment model which will result in earlier recognition of losses, better known as the ‘expected loss approach’.

Auditors are now required to consider the attributes of ‘credit risk’ and ‘objective evidence of impairment’ in determining the level of expected credit losses to be accounted for. These changes are having a significant impact on entities that have significant financial assets and in particular financial institutions. Conversely, there are still doubts as to whether this more prudent approach will contribute towards the achievement of financial stability.

Speaker

Paul Spiteri graduated as a qualified accountant from the University of Malta in 2015 and is an Associate of the Malta Institute of Accountants. He is also a Certified Public Accountant and holds a practising certificate in auditing.

Paul joined Nexia BT in 2011, during his university studies, in which period he started to gain significant experience in auditing various companies in various sectors and has also worked in the consultancy department.

He currently works as a Group Financial Controller with an established firm in the construction industry.  Paul also holds a Diploma in Insurance Accounting and Auditing.

 

Events Resources

Event Details

Day 1: 02/07/2020

Start time: 14:00 CEST

End time: 17:15 CEST

Venue: Online Live Session

Phone: +356 27555560 / +356 77555560

Email: info@societyeducation.online