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IFRS for Regulators GDLN Distance Learning Series

May-June 2011


The World Bank Centre for Financial Reporting Reform (CFRR) held a series of four Global Development Learning Network (GDLN) distance learning events on International Financial Reporting Standards (IFRS) for Regulators on 16 May, 26 May, 31 may and 6 June 2011. These events organized under the Road to Europe Programme of Accounting Reform and Institutional Strengthening (REPARIS).

The objective of this series of events were to:

  • Update regulators on the main changes to the accounting standards (IFRS) that are most relevant to the banking and insurance industries;
  • Link changes in IFRS to ongoing developments in prudential standards such as Solvency II and Basel III;
  • Explain the implementation challenges facing regulators and supervisors from changes in accounting and prudential standards;
  • Explain the interactions between the accounting and prudential treatments of a number of banking and insurance products in order to facilitate the work of regulators and keep them up to date with market developments and risk management techniques; and
  • Explain to regulators and supervisors how these factors will affect firms' risk profiles and risk assessment.

The four events were structured so that the first two events were primarily aimed at banking regulators with the remaining two events intended mainly for insurance regulators.

The series of events provided practical insight from experienced practitioners, explaining the likely impact on firms and the industry of these changes in a clear and simple manner, drawing on examples of financial statements and other public disclosures to illustrate how these were used in practice. The events gave regulators information about the main steps that they will need to take in order to prepare for these changes and also offered a platform for discussion and information sharing among speakers and participants.


Global Development Learning Network


To the REPARIS program page

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What is GDLN?

The Global Development Learning Network (GDLN) is a global partnership of learning centers that use advanced information and communication technologies to connect people working in development around the world.
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16 May


Hedge accounting and IFRS 7 disclosures on credit risk

The first event in this series was devoted to understanding hedge accounting and disclosures on credit risk under IFRS 7. It was mainly directed to banking regulators.

In the first session of the event, Anna Czerniecka discussed how the existing reporting standard (IAS 39) dealt with the issue of hedge accounting and how this information was used to construct prudential filters by bank regulators.

In the event's second session, Shamim Diouman gave on overview of disclosures on credit risk and impairment under IFRS 7, giving examples of good disclosures and of how these disclosures could be used by banking regulators.

Agenda and speaker biographies for download

Right click or option-click the link and choose "Save As..." to download these files.


Presentations for download

Right click or option-click the link and choose "Save As..." to download these files.

26 May


Market risk disclosures in IFRS7 and Basel III implementation challenges

The second event in the series was also directed mainly towards banking regulators and covered disclosures of market risk under IFRS 7 and some of the practical issues that were likely to arise as the new Basel III rules were implemented.

In the first session, Shamim Diouman outlined how disclosures of market risk were treated under IFRS 7 and how these disclosures could be used by bnaking regulators. In the event's second presentation, Patricia Jackson gave a presentation on some of the practical issues that will arise as the Basel III rules are implemented. This presentation also discussed how the banking industry might react to the new structure of incentives that are implicit in Basel III.

Agenda and speaker biographies for download

Right click or option-click the link and choose "Save As..." to download these files.

Presentations for download

Right click or option-click the link and choose "Save As..." to download these files.

31 May


IFRS4 Phase II

The third event in the series was principally targeted towards insurance regulators and covered issues raised by the IASB's proposed revised reporting standard covering insurance, IFRS 4 Phase II.

In the event's first session, Shamim Diouman presented a summary of reactions from the insurance industry to the IASB's Exposure Draft (ED) of IFRS 4 Phase II. In the second session Teddy Nyahasha discussed the implications for insurance regulators of issues which are likely to arise in the transition from IFRS 4 Phase I to IFRS 4 Phase II, including differences in valuation and impacts on insurance companies' balance sheets.

Agenda and speaker biographies for download

Right click or option-click the link and choose "Save As..." to download these files.


Presentations for download

Right click or option-click the link and choose "Save As..." to download these files.

6 June


Interactions between IFRS Phase II and Solvency II

The final event in the series was also mainly directed towards insurance regulators and covered the interaction between the EU's proposed new regulatory regime for insurance (Solvency II) and the application of IFRS to insurance.

In the first session of the event, Shamim Diouman compared the disclosures required by Solvency II and those under IFRS 7 and discussed how insurance regulators could use the disclosures demanded under Solvency II. He concluded by outlining some of the challenges that would arise from Solvency II disclosures. In the second session, Teddy Nyahasha summarised the slightly differing approaches to valuation in Solvency II and in IFRS 4 Phase I and Phase II, and how the two approaches would interact with each other.

Agenda and speaker biographies for download

Right click or option-click the link and choose "Save As..." to download these files.


Presentations for download

Right click or option-click the link and choose "Save As..." to download these files.


Venues


Venues

Registered participants from the following countries are invited to attend the events at the appropriate venue.

Country, City

Venue

Albania, Tirana

World Bank Office - Tirana

BiH, Sarajevo

E-Net Centre Sarajevo

BiH, Banja Luka

University of Banja Luka

Croatia, Zagreb

Croatian Academic and Research Network (CARNet)

Kosovo, Pristina

British Council Pristina

Macedonia, Skopje

British Council Skopje

Moldova, Chisinau

Academy of Sciences of Moldova (silver meeting room)

Montenegro, Podgorica

World Bank Office - Podgorica

Serbia, Belgrade

British Council Belgrade





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