IFRS 9 Financial Instruments 

IFRS 9 was issued in 2014 and came into force on 1 January 2018.

  • Many companies will need to provide more information than they currently do to fully apply the provisions of the new standard.
  • Implementation may also require significant resources and improvements to existing IT systems.
  • Important decisions regarding the key provisions of IFRS 9 have to be made early in the adoption process.
  • Application of the standard will have an impact on many business functions, including accounts, finance, analytics and the C-suite.

  • Do you have a detailed IFRS 9 implementation roadmap?
  • Have you identified all the financial instruments that fall within the scope of IFRS 9? Do you have the required contractual conditions for these instruments for all Group entities that will adopt IFRS 9?
  • Have you established an IFRS 9 business model analysis procedure for each of your financial asset portfolios?
  • Have you identified all your financial assets that are subject to IFRS 9 impairment requirements?
  • Have you identified the assets eligible for the simplified IFRS 9 approach, the assets requiring the general IFRS 9 approach, and the assets for which you can choose the accounting treatment?
  • Have you determined which models you will use and what information you require for particular instruments in accordance with the accounting treatment you chose for them?
  • Have you determined how you will collect the historical default rates to be used as the basis for calculating the allowance? Do you have sufficient data to analyse the full credit cycle of your current asset portfolio? How will you adjust historical data to reflect the nature of your current asset portfolio? Have you determined the forecasting information you will use to calculate the allowance and the source of this information?
  • Have you determined how you will ensure compliance with IFRS 9 impairment requirements for assets not eligible for the simplified approach?
  • Have you analyzed the new disclosure requirements and determined which of them apply to your organization, including transition disclosure requirements?
  • Have you developed a detailed template for all financial statement disclosures under IFRS 9?
  • Do you have all the data and information you need to prepare disclosures of comparative information?
  • Have you identified all the systems that will be affected by the adoption of IFRS 9?
  • Have you determined all the internal and external data sources required for the adoption of IFRS 9?

Deloitte can support you in the following areas:

Tab ifrs

Our services:

  • Analysis of financial instruments and development of a classification methodology
  • Review of the classification methodology developed by the client
  • Provision of customizable templates tailored to the client’s needs
  • Advisory support
  • o Transition readiness assessment

    o  Adequacy and quality assessment of available information

  • Methodological support
  • o  Development of the ‘to-be’ model and IFRS 9 implementation map

    o  Analysis and assessment of the impact of IFRS 9 on financial statements

    o  Assistance selecting the best transition approach

    o  Preparation of accounting policies and support developing key judgments

    o  Calculation of journal entry adjustments, including retrospective adjustments

    o  Preparation of draft disclosures

    o  ‘As-is’ business process analysis, including lease management-related risks and controls

    o  Reconfiguration of accounting systems

Key contacts

Anna Zdanevych

Anna Zdanevych

Director, Audit & Assurance

Anna started her career at Deloitte Kyiv in 2001 and joined the Audit department in Moscow in 2014.  Throughout her professional career, Anna has gained significant experience working with financial s... Ավելին

Tatiana Budishevskaya

Tatiana Budishevskaya

Director, Risk Advisory

Tatiana has more than 10 years experience providing risk-management and financial advisory services to clients across Russia. She specializes in risk management for financial institutions, gap analysi... Ավելին

Evgeniya Lugovtsova

Evgeniya Lugovtsova

Director, Actuary

Evgeniya works in Deloitte starting from 2010. She is a Director in Actuarial services group, Audit department of Deloitte CIS.  Evgeniya specializes in modelling and measuring the probability and ris... Ավելին

Sergey Grishunin

Sergey Grishunin

Senior Manager, Risk Advisory

Sergey is a senior manager in the Risk Management team. Sergey has over 10 years of risk management experience. He has a PhD in Economics degree in enterprise management. Sergey participates in projec... Ավելին