IFRS 9 FINANCIAL INSTRUMENTS-Impairment & Credit Losses Webinar

IFRS 9 introduced Expected Credit Loss (ECL) framework for the recognition of impairment. The standard requires that credit losses on financial assets are measured and recognised using ECL approach.  An impairment review is required for financial assets that are measured at fair value and any fall in fair value is taken to profit or loss or other comprehensive income for the year, depending upon the classification of the financial asset.