The new standard requires banks (and other preparers applying the standard) to provide for expected credit losses rather than simply incurred losses. Providing for future expected losses can be highly complex and judgemental. Brexit and the uncertainty around it could potentially create further challenges.
The ICAEW´s guide will provide an insight into Brexit’s potential impact on scenario analysis, including in the event of a no deal. It will also look at additional aspects of governance which may require additional time and effort, such as around models and assumptions, and the issues of dealing with non-linearity as well as disclosure requirements and how Brexit could influence those.
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