EU Endorses IFRS 9
Finally, the EU ratified IFRS 9 late November. All corporations reporting under IFRS should kick off their IFRS 9 implementation projects now, as the European Commission endorsed International Financial Reporting Standard (IFRS) 9, Financial Instruments. The reporting standardbecomes mandatory for years beginning on or after January 1, 2018.
The replacement of IAS 39 with IFRS 9 began in 2008, but the final standard was not issued in its entirety until 2014. IFRS 9 aims to improve the reporting of financial instruments by addressing concerns that arose in this area during the financial crisis. The new standard will change the way businesses must report cash and other assets they trade.
Risk Management Challenges Treasurers
Finance professionals have to handle all kind of risks, including cyber risk, FX risk caused by black swan events such as Brexit and regulatory risk associated with regulations such as IFRS 9 or Section 385.
Remain up-to-date with Reval’s Top 10 Articles:
- IFRS 9 Excepted to Boost Options with Corporates via @RiskDotNet
- Companies Must Move Fast on IFRS9 via @gtnewsdotcom
- Cyber Security Is Not Just about Information, Needs Education and BehaviourChange via @CTMfile
- Extortion and Ransomware among Fastest-growing Cyber Losses via @gtnewsdotcom
- Brexit and the Currency Market via @TreasuryToday
- Equipping Treasury to Manage Event Risk via @TMI_live
- Cross-border Payments: The Next Big Frontier via @FX_MM_Magazine
- Treasurers Exhale: Sec 385 Not So Bad via @iTreasurer
- Treasury Makes Room for Pooling via @TreasuryandRisk
- How Might 2016 Shape 2017 via @TreasuryToday
Reval, a scalable cloud platform for treasury and risk management, helps finance professionals to automate and streamline derivative management, exposure management, hedge accounting and compliance reporting. Read our Fact Sheet to learn more about the Reval Cloud Platform.