ifrs 9


In the wake of the 2008 financial crisis, IFRS 9 was developed to improve disclosures for increased financial transparency. The new standard lends certainty where there was no certainty before. It requires a forward looking approach to disclosures of amounts, timing and future cash flows with a focus on classification and measurement, impairment and hedge accounting.


Tagetik’s IFRS 9 solution allows you to address requirements including data storage, calculations, posting, reporting and disclosure right out of the box. The solution is built to address IFRS 9 requirements that can easily adapt to address other reporting requirements without a disrupting existing finance processes. How? See our IFRS 9 capabilities below.

IFRS4 Software

ifrs 9 key capabilities include

 Powerful IFRS 9 Engine

The solution kick starts IFRS 9 compliance with pre-packaged calculations to determine the impairment of financial instruments following the current IASB guidance.   Calculate Fair Value through P&L (FVPL) and through Other Comprehensive Income (FVOCI) at the instrument level and 12 month or lifetime Expected Credit Losses (ECL) and produce IFRS 9 reports including comparison to IAS39 and Solvency II reports.   To comply with both IFRS 9 and IFRS 7 disclosure requirements, you get the reporting capabilities which do everything from general reporting and extend to allowing you to analyze values within assets. 

IFRS 9 requires specific and unique disclosures and our IFRS 9 starter kit preconfigured for compliance with these requirements and can be easily configured to meet non-standardized requirements without the need for programming or IT support.

Pre-Built and Configurable

 Calculate and Integrate

Perform IFRS 9 specific calculations in the solution or import classification and measurement from existing systems.  Either way the loading and verification of data from the necessary sources (instrument registry, credit risk systems etc.) can be automated and managed by the finance organization.

The solution creates a financial information data mart for IFRS 9 and other reporting requirements from one source. Pre-configured analysis leveraging Qlik Sense is available or any other BI tool can access the information for analysis and visualization of the lifetime of each.  Easily aggregate to the account level for automated loading to the general ledger or subledger.

 Financial Information Data Mart

 Reduce Risk and Redundancy

Our IFRS 9 solution was created to handle large amounts of data and made to fit coexist, supplement and integrate with existing applications.  The IFRS 9 solution isn’t just non-disruptive to existing architectures - it integrates with all your systems including Tagetik applications for Solvency II and the Collaborative Office, and non-Tagetik applications, on premises or on the cloud.

IFRS 9 demands more granularity and transparency in disclosures - which means you must demand it too! Just like in all Tagetik offerings, our IFRS 9 solution has an audit trail that captures the full lifecycle of calculations, transformations and data flows. In addition, built-in workflow allows administrators to see the progress of contributors and activities to circumvent and solve bottlenecks before they happen. 

 Transparency

Tagetik's ifrs Software is trusted by leading companies across several industries


Laing O'Rourke

IFRS Reporting, Consolidation, Tax Reporting, Monthly Reporting

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Generali

IFRS Consolidation, Solvency II, MVBS, BPF, IVASS

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Greiner Holding

IFRS Consolidation, Budget & Planning of the Group, Cash Flow

Allianz

IFRS Consolidation, Consolidation, CDM, Solvency II, IVASS Reporting

Sealord

IFRS Reporting, Monthly Management Consolidation, Statutory Consolidation, Monthly Closing, CDM

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Astaldi

IFRS Reporting, Consolidation, Cash Flow Planning, Budgeting, Monthly Closing

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