Why IFRS 9 CPD Is Essential
IFRS 9 Financial Instruments replaced IAS 39 in January 2018 and remains one of the most complex and frequently examined standards in financial reporting. Finance professionals in banking, insurance, corporate treasury, and financial services face ongoing demands to understand and apply IFRS 9 correctly. CPD in IFRS 9 is particularly valuable for those in finance, treasury, or accounting roles at entities with significant financial instruments on their balance sheets.
Key IFRS 9 Topics for CPD
Classification and measurement: How financial assets are classified under the business model test and the contractual cash flow characteristics (SPPI) test. The three categories: amortised cost, fair value through OCI (FVTOCI), and fair value through profit or loss (FVTPL). Impairment - Expected Credit Loss (ECL): The three-stage ECL model, distinguishing Stage 1 (12-month ECL), Stage 2 (lifetime ECL - significant increase in credit risk), and Stage 3 (credit-impaired). How ECL is calculated and disclosed. Hedge accounting: The optional IFRS 9 hedge accounting model, qualifying hedging relationships, effectiveness assessment, and disclosure requirements. Financial liabilities: Measurement of financial liabilities at amortised cost, fair value option, and own credit risk adjustments.
Who Needs IFRS 9 CPD?
Bank and building society accountants and auditors, corporate treasury professionals, insurance company finance teams (alongside IFRS 17), financial reporting professionals at listed companies with material financial instruments, and auditors who sign off on financial institutions.
Verifiable CPD Hours
Formal IFRS 9 training courses, webinars from ICAEW, ACCA, or CIMA, and structured e-learning programmes all count as verifiable CPD. Keep attendance certificates and document learning outcomes for your CPD records.
FAQ
How often does IFRS 9 change?
IFRS 9 itself is relatively stable since its 2018 effective date, but the IASB regularly issues narrow-scope amendments and the IFRIC issues agenda decisions that affect application. The IASB's project on hedging of aggregated exposures and its review of the ECL model are areas to monitor for future changes.
Further Reading
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