Second GPPC paper on the auditor’s response to the risks of material misstatement posed by estimates of expected credit losses under IFRS 9
Publication date: 28 Jul 2017
The introduction of the requirement to estimate expected credit losses (ECLs) under IFRS 9 Financial Instruments is one of the most significant changes to financial reporting by banks. A new paper from the Global Public Policy Committee (pdf, 322kb) has been issued to promote high quality audits of the accounting for expected credit losses by systemically-important banks (SIBs) and to assist audit committees in assessing the effectiveness of auditor’s response to the risk of material misstatement.
© Global Public Policy Committee
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