The Association of Montenegrin Banks organised presentation and interactive workshop of IFRS 9 which was held by PricewaterhouseCoopers in the premises of the CBCG on 20 March 2017. Lecturers were Saša Todorović, Nikola Stamenić and Jock Nunan.
The workshop covered the following topics:
• Classification of financial assets in three categories,
• Classification of debt instruments in accordance with the business models for financial asset management,
• Investments in equity instruments are always measured at fair value,
• The largest number of IAS 39 requirements that refer to the classification and measurement of financial liabilities were transposed in unchanged form into IFRS 9,
• IFRS 9 introduces new model for loss recognition based on the impairment of assets – Expected Credit Loss (ECL) model,
Requirements regarding hedge accounting are amended for the purpose of larger extent of harmonisation of hedge accounting with risk management.
During workshop, the participants had the opportunity to:
• Understand the requirements of new standard,
• Gain knowledge on numerous novelties regarding IFRS 9 and impact of its implementation on financial reports,
• Exchange information and opinion with experienced staff,
• Gain a starting point to plan and/or anticipate future steps in the implementation of the standard
