FERNBACH is proud and honoured to be chosen as representative and participant of this year’s business mission whose selection criteria were very competitive. We understand this to be in recognition of our convincing business proposition as one of the market leaders for International Financial Reporting Standards.
We demonstrated from 23 May – 25 May 2017 in Singapore and from 26 May – 27 May 2017 in Bangkok how FERNBACH supports regional banks in tackling their IFRS 9 challenges. The event in Singapore was Asia’s largest gathering of technology and digital media companies and experts extending over 65,000 sq m and hosting 1,800 exhibitors from 62 countries.
ASEAN economies will have to adopt an expected credit loss model instead of an incurred loss model. This necessitates the application of several forward-looking scenarios which most local banks will have to develop from scratch.