FBK Grant Thornton Presents Concept for Transition to IFRS 9

FBK Grant Thornton has participated in the meeting of the technology committee titled “IFRS 9 support in Diasoft products” held by Diasoft for its clients. 

The company’s experts spoke about their opinion on the upcoming changes and their support in products offered by the financial markets division. Anastasia Terekhina, Senior Manager of the Department of Assurance and Advisory to Financial Institutions, talked about a phased strategy for smooth transition to IFRS 9 and importance of accurate methodology development.

“Transition to IFRS 9 in Russian accounting will eventually affect all aspects of operation of any company. IFRS financial statements used to be prepared once a year and banks and developers need to work long and hard to introduce daily accounting for transactions,” Anastasia Terekhina says.

Diasoft is one of the major Russian developers and suppliers of IT solutions for the financial sector recognized by international experts (Gartner, IDC, BIAN and others). Among the Company’s clients there are over 300 financial organisations, including 55 of the TOP 100 banks, 31 of the 68 banks with 100% foreign capital, leading investment, management and insurance companies, non-governmental pension funds and microfinance institutions.