| Summary: | 碩士 === 國立中山大學 === 高階經營碩士班 === 106 === International Financial Reporting Standard 9 (IFRS 9) will be implemented January 1, 2018. Due to its approaching, the competent authorities and Financial institutions concernover the potential impacts and commence to take the appropriate actions. Most financial institutions are not fully aware of the influences to be ocurred after IFRS9 Implementation. They either have not yet commenced to execute the required actions, the related system construction planning and employee training for the IFRS 9 introduction or the progress of these actions are very slow. It is worth of exploring the factors for causing these.
In addition, the IFRS4 amendment released by the IASB in December 2015 causes that the Insurance companies face two different Effective dates for IFRS 9 and IFRAS 4 Phase II, respectively. This study explores the inconsistencies caused by different effective dates of these two standards in accounting valuation of assets and liabilities, analyses the impacts after IFRS 9 implementation and the alternative approaches in the transition of IFRS 9 and IFRAS 4 Phase II, one is deferral approach under IFRS 9 and the other one is overlay approach for IFRS 9/IAS 39.
This study hence explores the potential impacts on profit/loss and capital needs and the influences on the investment strategies and assets and liabilities management for the financial institutions under the reform of international financial reporting standards, considering the nature of banking and insurance companies is based on employing financial instruments as major business items and if they apply the「Expected Credit Losses model」to evaluate loss on impairment of financial assets. This study explores the potentail impacts on various aspects for the financial institutions when they apply the「Expected Credit Losses model」to evaluate loss on impairment of financial assets in order to enable them to adjust their strategies to respond to major changes in accounting recognition and appraisal of financial instruments and to minimize the impacts as earlier as possible.
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