8 questions banks should ask to prepare for IFRS 9 – Canadian Government Executive

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June 22, 2016

8 questions banks should ask to prepare for IFRS 9

While of much of the world’s banks are expected to comply with IFRS 9 by January 1, 2018, Canadian firms will have to implement the standards by October 31, 2017.

In a little more than a year, Canadian banks and lending companies will be facing a massive data analytics tasks brought on by an upcoming financial industry reporting standard.

IFRS 9 is an International Financial Reporting Standard promulgated by the International Accounting Standards Board (IASB) which primarily alters current industry requirements compelling financial firms to report projected credit losses should a crisis occur.

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About this author

Nestor Arellano

Nestor is a Toronto-based journalist who specializes in writing about technology and business. He is the editor of Vanguard Magazine and the associate editor of IT in Canada and a regular contributor to CGE.

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