Simplify IFRS 9 – Financial Instruments compliance with a solution that is quick to implement and easy to use. CCH Tagetik IFRS 9 is a pre-configured starter kit that comes complete with calculations and disclosures for classification, measurement, impairment and credit risk.
Flexible and ready for you to extend, CCH Tagetik IFRS 9 software solution includes automated data collection, data model, calculations, reports, disclosures and workflow. Built for finance, users can easily adapt to changes without coding. Non-disruptive and completely streamlined, CCH Tagetik easily integrates with any and all existing systems, including instrument registries, classification and credit risk to make complex compliance easy.
3 reasons why CCH Tagetik IFRS 9 let's you focus on your business
IFRS 9 Demo
Our ready-to-use solution includes a data repository, an IFRS 9 compliant data model, a library of financial instruments, a pre-configured workflow, disclosure templates, and pre-built calculations.
- Simplify compliance with end-to-end solution
- Single financial instruments data repository
- Produce comparisons to IAS39 and Solvency II
- Automates compliant journals and disclosures
- Boost efficiency with workflow and audit trail
Key Benefits you will gain with CCH Tagetik IFRS 9
Simplify IFRS 9 compliance company-wide. CCH Tagetik satisfies your reporting needs, covers all necessary calculations, and centralizes all data, automatically fulfilling your IFRS 9 disclosure requirements.
- Comply quickly with pre-packaged solution
- Simple, flexible solution adaptable to your needs
- Reduce IT needs with a finance-owned solution
- End-to-end integrated solution mitigates risk
- Align all stakeholders with trusted reports
What is the objective of IFRS 9?
IFRS 9 - Accounting for Financial Instruments intends to improve the disclosure of amounts, timing, and uncertainty of entities’ future cash flows by applying a forward-looking approach to these disclosures. IFRS 9 was originally published on July 24, 2014 by the IASB in an effort to replace IAS 39 Financial Instruments: Recognition and Measurement. After several amendments, the mandatory effective date has been set to January 1st 2018.
The goal? To give stakeholders a better understanding of the company’s financial position, something needed in the wake of the 2008 financial crisis.
IFRS 9 focuses on the following three topics:
- Classification and measurement:
- SPPI test on contractual cash flows must verify that cash flows from the instrument consists of Solely Payments of Principal and Interest (SPPI).
- Business model assessments conducted and reported on to determine if a financial instrument is held only to collect contractual cash flows or whether it is for sale.
- Impairment: Moving from an impairment model based on incurred loss to a new one based on expected loss with a forward-looking approach:
- Hedge accounting: The objective of IFRS 9 is to better align accounting and risk management, including the hedging of non-financial risk exposures.
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