IFRS 7 / 9 Advisory Services
As part of our Financial Reporting and Accounting Advisory services, we support financial institutions that report under International Financial Reporting Standards (IFRS) and Turkish Financial Reporting Standards (TFRS).
The standard that sets out the principles for recognizing and measuring financial assets and liabilities—designed to enable assessment of the amount, timing, and uncertainty of future cash flows—came into effect on January 1, 2018. As of December 31, 2019, reporting under this standard became mandatory. In the insurance sector, implementations are carried out in parallel with IFRS 17.
We provide advisory services in collaboration with Prof. Dr. Yıldırım Ercan Çalış, Faculty Member at the Faculty of Business Administration, Marmara University, supported by our team of experts.
Our advisory services include the following stages:
- Identification of Financial Instruments
- Classification of Financial Instruments
- Determination of the Business Model
- Presentation of Financial Instruments
- Assessment of Expected Credit Loss – "Impairment"
- Disclosures Related to Financial Instruments
- Cash Flow Testing – Model Validation