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UK taskforce publishes report on IFRS 9 expected credit loss disclosures

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Nov 26, 2018

On November 26, 2018, the Taskforce on Disclosures about Expected Credit Losses published its first report. Three regulators in the United Kingdom, one of which is the UK Financial Reporting Council (FRC), jointly established a taskforce on disclosures about expected credit losses in November 2017. The taskforce is modeled on the Enhanced Disclosure Task Force (EDTF) of the Financial Stability Board (FSB) and was set up to promote high-quality disclosures about expected credit losses and to encourage greater consistency between and comparability of those disclosures.

The recommendations in the report were developed primarily for use by the preparer firms represented on the taskforce. However, the recommendations may be of relevance to other banks and similar financial institutions as a guide to best practice.

Review the report on the FRC's website.

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