Financial Reporting Update: Financial Instruments Developments

Join the first 2023 Financial Reporting Updated focused on developments in accounting for financial instruments.

The recent turmoil in the global banking sector is a sharp reminder of the importance of financial instruments and how they are accounted for and reported on.

Given the current macro-economic climate, the application of IFRS 9 Financial Instruments has been a recent regulator focus area.

In addition, the IASB is in the process of finalising its post implementation review of IFRS 9, to make amendments and improvements to the standard based on feedback from users.

In this session we will deal with the following matters:

• Overview of the IASB’s post implementation review of IFRS 9
• Classification and measurement principles applied to specific transactions, including loans with ESG features and intercompany loans
• Financial guarantee contracts
• Supplier financing
• Expected credit loss considerations
• Derecognition of financial liabilities using electronic payment systems
• Developments around financial instruments with equity features
• Financial risk disclosure and its increased relevance in the current environment

This event is presented by EY Financial Reporting Group’s Callum Allen, Partner and Andrea Koch, Associate Director.

Cullum is a technical accounting Partner in the banking and insurance sectors and co-ordinates EY’s global subject matter expert group for financial instruments. Collaborating with a team of highly skilled international experts, he works to solve complex accounting challenges across multiple jurisdictions and industries as well as develop global thought leadership and training material for use at a firm-wide level. Callum leads a team out of the Johannesburg office who support assurance clients and audit teams across Africa.

Andrea works in the Professional Practise Group at EY, specifically the Financial Reporting Group, focussing on IFRS and in particular financial instruments. Andrea is involved in IFRS training, financial statements reviews, accounting opinions and developing thought leadership.