International Financial Reporting System-IFRS

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International Financial Reporting System-IFRS


International Financial Reporting System-IFRS

 

Many international transactions happen every day and most of them are subjected to the lack of security. To keep a check for this, the International Accounting Standards Board (IASB) in London, has come up with a high-quality, globally-accepted set of accounting standards called International Financial Reporting Standards (IFRS). This is accepted in more than 100 countries. IFRS governs how to report a particular type of transaction or event in financial statements.

This is a major challenge for banks to deal with two functions with disparate data i.e. risk and finance which are operated on different data standards previously and has to be integrated now to comply with IFRS 9.

MatinQ consulting has a solution for IFRS 9. Our team of risk specialists and financial modeling can address all the standards right from classification &measurement of assets &liabilities through impairments and disclosures. We help you assess your system and make the necessary changes.

 

Our approach

 

  • Interpret the standards for collaborating risk and finance
  • Assess your current position
  • Look back into historical data &existing risk models
  • Develop the right methodology
  • Conduct Scenario tests
  • Amend changes to the methodology
  • Implement model governance
  • Conduct models and parallel runs
  • Monitor ongoing changes
  • Frame reports regularly