FBK Grant Thornton at IFRS 9 Seminar in Uzbekistan

FBK’s Consultants Anastasia Terekhina, Dmitriy Popov and Svetlana Sadovnikova have spoken at a seminar dedicated to the application of IFRS 9 Financial Instruments held by Grant Thornton in Tashkent for the Central Bank of Uzbekistan and large credit institutions of the Republic.   

“IFRS 9 has become effective on 1 January 2018, so the 2018 financial statements should follow the requirements of the new standard. And it is very important to apply the standard correctly so that the financial statements present fairly the financial position of the bank,” said Senior Manager of FBK’s Department of Assurance and Advisory to Financial Institutions Anastasia Terekhina.

The seminar covered such aspects of IFRS 9 application as general provisions of the new standard, business models and asset classification, fair value of assets and its measurement, allowance for expected credit losses, derivative financial instruments and many other things.