This summer I attended the IFRS Foundation Conference in London, looking
forward particularly to a session on IFRS 9 Financial
Instruments and IFRS 15 Revenue from Contracts with
Customers. This panel was chaired by Mary Tokar (IASB Member
and former global leader of the KPMG International Financial
Reporting Group), who has not only excellent technical knowledge
but a really entertaining presentation style. Her panel contained
preparers1 and investors,2 whose views were
very insightful. I will share some of them in this article.
IFRS 9 from the point of view of the investors
Firstly, it was emphasized that it is important to include, in
the financial statements (FS), the disclosures on
methodology/approach taken to calculate expected credit losses
(ECL). One of the panelists found the disclosures on sensitivity
analysis related to ECL measurement problematic, and I agree that
it is not explicitly required by IFRS 7 Financial Instruments:
Disclosures to include a
