IAS / IFRS – Local GAAP

IAS 17 – Leases: evaluation and mandatory recognition of the Fair-value,

IAS 19 – Actuarial evaluation/certification of the employees’ benefits and in particular: severance payment/indemnity, pension funds, health funds, seniority/loyalty premiums, tariff concessions, end-of-service gratuity, tax credits, incentive schemes for top-level management.

IAS 36 – Impairment test on tangible and intangible fixed assets, goodwill and investments.

IAS 37 – Evaluation/certification of the contingent liabilities – Customer indemnity provision (FISC), agent merit provisions (FIR), and general merit provisions.

IAS39 – (it is going to be replaced by IFRS9) Evaluation/certification of the Fair value of the main financial instruments, verification of the hedge accounting effectiveness of the derivatives contracts and assistance in drafting hedging policies,

IFRS 2 – Evaluation/certification of Stock-options Plans in accordance with the IFR2, Stock-grant plans, purchase options, etc.

IFRS 3 – Accounting for business combinations,

IFRS 4 – Adequacy liability test of the reserves of the Insurance companies – Calculation of the stochastic reserves,

IFRS 7 – Information on the financial instruments (quantitative aspects).

FOCUS IFRS 9: Expected Credit Losses

Analysis of the implications on accounting (including disclosure) and reporting due to the impairment of financial assets, as proposed by IASB. Analysis of the impacts of the financial assets on the balance-sheet aggregates, on the asset ratios and on pricing. Definition of the compliance actions for processes and systems – Quantitative simulations of the economic and equity impacts – Support to the development of the model necessary to the application of the new criteria.

Classification & Measurement (C&M)

Impact analysis on accounting (including disclosure) and reporting derived from the adoption of the new model – Identification of the information gap necessary to comply with the new model (e.g. the look-through test). Definition of the steps necessary to comply with the application of the new classification and evaluation criteria, concerning the accounting and reporting systems, the information systems, the company’s processes and procedures.

Hedge Accounting

Impact analysis on accounting (including disclosure) and reporting derived from the adoption of the new model – Verification of the consistency of the new model with the internal model of risk management – Support to the definition/modification of the hedging policy, based on the requirements of the new model.

IFRS 13 Fair Value Measurement

Consultancy on the accounting and balance-sheet criticalities deriving from the adoption of the quantitative IAS/IFR and analysis of the tax measures related to the use of the IFRS for calculation of the taxable income – training courses.