Regional Implementation of Asseco IFRS 9 Impairment Solution in Progress
With the approach of January 1, 2018, as the effective date of IFRS 9, Asseco SEE’s team responsible for the implementation of IFRS 9 Impairment solution has been actively working on multiple projects in the region.
Having more than 10 contracts signed and implementation projects started in Serbia, Montenegro, Bosnia, Romania and Kosovo, it is evident that Asseco SEE’s clients are carefully preparing for and planning alignment of their business operations to comply with the International Financial Reporting Standard 9 (IFRS 9). Since IFRS 9 requirements ask for a more sensitive approach to identification of credit risk and complex impairment calculations that result in higher loan loss reserves, Asseco SEE has developed a sophisticated risk management tool for identification and segmentation of credit and calculation of expected credit losses. Implementation of Asseco IFRS 9 Impairment Solution provides banks with:
- Adequate response to regulatory changes,
- Effective monitoring of client portfolio, and
- Efficient calculation of expected losses.
To learn more about the solution and how Asseco SEE can help, please visit Get ready for IFRS 9 on time & with minimum effort!