close
Share with your friends

Determination of expected credit losses in light of the Covid-19 pandemic

Determination of expected credit losses in light of...

1000

Contact

Andrés Dezsényi

Senior Manager

KPMG Hungária Kft.

Contact

Related content

ESMA and IASB recently published short papers about IFRS 9 in light of the challenging environment arising from Covid-19 pandemic. Both IASB’s and ESMA’s material focuses on the determination of expected credit losses (ECL). Both ESMA and IASB are working closely together with many prudential and securities regulators (including EBA) and IASB encourages entities to consider guidance issued by their respective regulators.

Accounting profession has been considering largely the same issues discussed in the papers, and many more, in relation to the accounting implications  of Covid-19. In light of IASB’s and ESMA’s material, it is worth summarising the main and some related topics and some thought about them regarding the accounting for ECL under IFRS 9. Mainly, but not only for the attention of banks and financial institutions.

Useful links:

© 2020 KPMG Tanácsadó Kft., a Hungary limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal