IFRS Diploma
This diploma offers a broad knowledge and practice to the field of International
Financial Reporting and International Financial Reporting Standards (IFRS).
It traces the history of the International Accounting Standards Board (IASB) from its early roots through to recent changes and updates and future developments.
The diploma is designed to develop your knowledge and understanding of International Financial Reporting Standards.
You will also learn how to apply them, as well as the concepts and principles which underpin them.
On completion of the diploma, you should be able to:
- Help you understand how International Financial Reporting Standards (IFRS) are used around the world.
- Explain how the International Financial Reporting Standards Foundation (IFRSF) /International Accounting Standards Board (IASB) work and how these are being changed.
- Examine the fundamental requirements of IFRS on a standard by-standard basis.
- Provide guidance on how to use IFRS in practice.
- Introduction to IFRS 9
- Understanding IFRS 9 requirements
- Some of application challenges of IFRS 9
- Proposed responses to areas of significant risk
- Evaluating the findings based on understanding of bank’s processes, systems and controls
- Accounting policies adopted by the bank (appropriate for its portfolio, compliant with IFRS 9 and consistently applied)
- Information systems to estimate the credit losses
- Procedures and internal control in respect of estimated credit losses
- Over seeing weather judgments made by the credit and finance departments are reasonable and robust.
- Fundamental concepts for auditing estimated credit losses
- Evaluating the effectiveness of the external auditors’ response to the risks of material misstatements presented by the estimated credit losses
- Financial statements disclosures
- Case study