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IFRS 9 – Financial Instruments – Transition Report

IFRS 9 – Financial Instruments – Transition Report

Since IFRS 9’s expected credit loss (ECL) impairment requirements represent a material change in the accounting for the group’s credit impairments, the group has prepared a transition report that sets out the following:

    • Presentation of the impact of IFRS 9 on the group’s financial position and reserves at the DIA. This impact is presented as an opening transition adjustment in the group’s summarised statement of changes in equity in the group’s SENS announcement dated 24 April 2018
    • Presentation of quantitative reconciliations that further explain the transition adjustment and key financial ratios
    • Explanation of IFRS 9’s key principles and management’s key assumptions and judgements.