We’re just deploying another instance of expected credit loss disclosure functionality in our IFRS 9 governance system, ‘K9’.
This is all in accordance with the recommendations of the UK Financial Reporting Council’s Taskforce on ECL disclosures, updated in September 2022, in respect of quantitative disclosures. If you account under IFRS you will know that there are recommendations also around qualitative ECL disclosures.
While the guidance is ‘aimed primarily at the biggest UK-headquartered banks and building societies’, we know that many smaller institutions use these reports as templates for their own ECL disclosures, both in terms of senior management MI, and the production of their annual reports.
K9 is already equipped with the necessary data, and much more, to support these requirements.
Please let us know, if you would like to discuss this further.
Paul Ashton: paul.ashton@knowco.co.uk
Dr Lise Land: lise.land@knowco.co.uk
knowco.co.uk | 07799 113535