IFRS-9 - Solution for SAP TRM / FAM

COMPIRICUS helps you adapt your processes and systems

Benefit from our IFRS 9/ SAP expertise

On July 24th 2014, after a consultation phase lasting several years, the IASB adopted IFRS 9, the new standard for representing financial transactions in the IFRS accounting system. As a result, all companies that report in line with IFRS are obliged to implement the amended rules in their processes and system solutions by January 2018. Nearly all procedures in the posting of financial transactions are affected – from valuation postings for individual transactions regarding the additional provisions of IFRS 13 and the dependances of still pending IFRS 4, through to the impairment of assets, right up to provisions for hedge accounting.

Because of the dependencies between IFRS 9 and the still pending standard for the accounting of insurance contracts within the scope of IFRS 4, it is likely that the International Accounting Standards Board (IASB) will no longer adhere to the planned introduction date in January 2018, but will give insurance companies the option to choose the introduction date. The exposure draft for corresponding extension of the IFRS 4 standards was published on December 9th 2015.

Your Goals

Results-focused interpretation

Do you expect the transition from IAS 39 to IFRS 9 to have as positive an impact as possible on the accounting results of your financial transactions?

Timely compliance with the rules

Would you like to post your inventory of financial transactions in line with IFRS 9 in a timely manner? Do you believe an audit-proof transition would be very expensive?

Efficient updating of your systems

Does your financial accounting work on an SAP system, and would you like your procedures and solutions to be adapted efficiently and transparently?

Adapting the processes in hedge accounting

Are you considering representing your transactions in hedge relations, or do you already do this and would like to continue doing this under IFRS 9?

Our Solution

We provide timely and efficient support in

  • reallocating your financial transactions from IAS39 to IFRS9 (taking into consideration the status quo of IFRS 4)
  • determining the right business model for your assets and with evidence of payment flow conditions
  • concrete design of the “expected loss model” whilst determining a possible value adjustment
  • applying the “three bucket approach” to assign your transaction to the correct credit rating

Our Offer to you

Our integrated consulting team would be happy to help you by

  • providing specialist support in selecting the correct methods to represent your financial transactions in your accounting system
  • optimizing your accounting processes, e.g. in classifying your assets or in implementing the new impairment rules
  • quickly switching your SAP system landscape to the requirements of IFRS 9 (incl. IFRS 13) based on many years’ experience as an SAP partner
  • supporting your employees through the introductory phase for IFRS 9, including parallel accounting and support in verifying the guidelines, with external auditors as well

Your Benefits

Early recognition of implications

You will be provided with an early indication of the implications of IFRS 9 on your results and processes.

You have the decision-making power

You decide on the parameters for switching based on our recommendations.

Professional and transparent customization

Your SAP system will be professionally customized by our experts in line with the new rules. All modifications will be documented to ensure transparency.

Hedge Accounting in line with IFRS 9

You decide whether you want to use the extended option in the hedge accounting in line with IFRS 9.

What are you waiting for?

Take advantage of our Know-how. As SAP development partner we have in-depth specialist knowledge on all types of financial transactions and on representing your transactions in the SAP environment.