Tue, 30 Jan 2018 14:20:03 +0000 THERE is very rarely an International financial reporting standard (IFRS) that has everything; complexity depending on the sort of financial assets you sit with, impactful in terms of its behavioural repercussions on institutional business decisions, a real cost cesspool requiring significant system investments for those with significant financial assets base. Most often, we say that this standard or that standard will require a re-look at the system and will oblige relearning; the formation of project team etc. We said that with IFRS 15 Revenue from contracts with customers, and we said that with IFRS 16 Leases. In fact, in my article published in The Accountancy Magazine on IFRS 16 Leases, I alluded to that. Yet the impact by all of those standards will stand pale in comparison to IFRS 9 Financial Instruments, for those with a significant number of the portfolio of financial assets qualifying for amortised asset classification. […]
