Introduction to IFRS 9 for Banks and Other Financial Institutions:

IFRS 9 is an international financial reporting standard developed by the International Accounting Standards Board (IASB) that sets out the guidelines for financial instruments' recognition, measurement, presentation, and disclosure. This standard is particularly important for banks and other financial institutions as it provides guidance on how to account for and report their financial instruments.

Objective:

The objective of the IFRS 9 course for Banks and Other Financial Institutions is to provide participants with a comprehensive understanding of the standard and its implications for financial reporting. The course aims to equip attendees with the necessary knowledge and skills to apply IFRS 9 in practice and ensure compliance with the standard.

Organizational Benefits:

Organizations that send their staff to attend the IFRS 9 course can expect several benefits, including:

1. Enhanced financial reporting: The course helps participants gain a thorough understanding of the standard, enabling them to prepare accurate and reliable financial reports that comply with IFRS 9 requirements.
2. Improved risk management: IFRS 9 introduces new provisions for the classification and measurement of financial instruments, as well as an expected credit loss model. By understanding these requirements, financial institutions can improve their risk management practices and make better-informed decisions.
3. Compliance with regulatory requirements: Many jurisdictions have adopted IFRS 9 as the basis for financial reporting. By training their staff on this standard, organizations can ensure compliance with local and international regulatory frameworks.
4. Increased credibility: Having employees who are knowledgeable in IFRS 9 enhances the organization's reputation and credibility in the financial industry.

Who Should Attend:

The IFRS 9 course is designed for professionals working in banks and other financial institutions who are involved in financial reporting, risk management, accounting, auditing, or related fields. It is suitable for:

1. Accountants and financial controllers
2. Risk managers and analysts
3. Auditors
4. Financial analysts
5. Compliance officers
6. Treasury professionals
7. Regulatory reporting specialists
8. Finance directors and managers
9. Professionals working in financial institutions' back-office operations

Duration:

The IFRS 9 course has a duration of 10 days. The comprehensive nature of the course allows for an in-depth exploration of the standard, including practical exercises and case studies to reinforce understanding.

Course Outline:

Module 1: Introduction to IFRS Framework

• Overview of International Financial Reporting Standards (IFRS)
• Importance of IFRS in financial reporting for banks and financial institutions
• Role of IFRS 9 in financial instrument accounting

Module 2: Key Concepts and Scope of IFRS 9

• Definition and classification of financial instruments
• Overview of IFRS 9's three main measurement categories: amortized cost, fair value through other comprehensive income (FVOCI), and fair value through profit or loss (FVTPL)

Module 3: Classification and Measurement of Financial Assets

• Detailed examination of the criteria for classification of financial assets into different measurement categories
• Measurement of financial assets at amortized cost, FVOCI, and FVTPL
• Determining and reassessing the business model for managing financial assets

Module 4: Impairment of Financial Assets

• Introduction to the expected credit loss (ECL) model
• Understanding the three stages of impairment: Stage 1, Stage 2, and Stage 3
• Calculation and recognition of credit loss allowances for impaired financial assets

Module 5: Hedge Accounting under IFRS 9

• Hedge accounting requirements and principles
• Types of hedging relationships and their accounting treatment
• Assessing hedge effectiveness and documentation requirements

Module 6: Transitioning to IFRS 9

• Overview of the transition requirements from previous standards (e.g., IAS 39)
• Measurement and recognition of the cumulative effect of transition adjustments
• Disclosures related to the transition to IFRS 9

Module 7: Disclosures and Presentation Requirements

• Disclosure requirements for financial instruments under IFRS 9
• Presentation of financial instruments in the statement of financial position and statement of comprehensive income
• Communication of significant accounting policies related to financial instruments

Module 8: Interactions with Other IFRS Standards

• Interaction of IFRS 9 with other IFRS standards, such as IFRS 7 (financial instruments disclosures) and IFRS 13 (fair value measurement)
• Recognition and measurement of embedded derivatives, compound financial instruments, and hybrid contracts

Module 9: Practical Examples and Case Studies - Part 1

• Application of IFRS 9 principles to real-world scenarios
• Analysis of case studies involving classification, measurement, impairment, and hedge accounting

Module 10: Practical Examples and Case Studies - Part 2

• Continued analysis of case studies focusing on more complex issues and challenges in applying IFRS 9
• Group discussions and problem-solving exercises

Module 11: Implementation Challenges and Best Practices

• Common challenges faced during the implementation of IFRS 9
• Strategies for addressing implementation issues and ensuring compliance
• Lessons learned from early adopters of IFRS 9

Module 12: Regulatory Framework and Reporting Requirements

• Overview of the regulatory landscape related to financial reporting for banks and financial institutions
• Reporting requirements and disclosures mandated by regulatory bodies
• Alignment of IFRS 9 with local regulatory frameworks

Module 13: Emerging Issues and Future Developments

• Current developments and updates related to IFRS 9
• Discussion of emerging issues and potential future changes to the standard
• Implications for financial institutions and their financial reporting practices

General Notes

·         All our courses can be Tailor-made to participants' needs

·         The participant must be conversant in English

·         Presentations are well-guided, practical exercises, web-based tutorials, and group work. Our facilitators are experts with more than 10 years of experience.

·         Upon completion of training the participant will be issued with a Foscore development center certificate (FDC-K)

·         Training will be done at the Foscore development center (FDC-K) centers. We also offer inhouse and online training on the client schedule

·         Course duration is flexible and the contents can be modified to fit any number of days.

·         The course fee for onsite training includes facilitation training materials, 2 coffee breaks, a buffet lunch, and a Certificate of successful completion of Training. Participants will be responsible for their own travel expenses and arrangements, airport transfers, visa application dinners, health/accident insurance, and other personal expenses.

·         Accommodation, pickup, freight booking, and Visa processing arrangement, are done on request, at discounted prices.

·         Tablet and Laptops are provided to participants on request as an add-on cost to the training fee.

·         One-year free Consultation and Coaching provided after the course.

·         Register as a group of more than two and enjoy a discount of (10% to 50%)

·         Payment should be done before commence of the training or as agreed by the parties, to the FOSCORE DEVELOPMENT CENTER account, so as to enable us to prepare better for you.

·         For any inquiries reach us at training@fdc-k.org or +254712260031

·         Website:www.fdc-k.org