HOW TO AUDIT EXPECTED CREDIT LOSSES (ECL) IFRS 9: Accounts receivable valuation audit assertion

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Күн бұрын

In this video, we are continuing the series on auditing financial instruments. This video focuses on the impairment of financial assets using the Expected Credit Loss (ECL) model. ECL is an important concept when auditing the valuation assertion for accounts receivable. I will walk you through the IFRS 9 standard on financial asset impairment.

Пікірлер: 22

@dd5944 Жыл бұрын

please dont stop. continue . I Will share with my audit team

@efiwecpa Жыл бұрын

Thank you. 😊

@ogundelevictor6744 8 ай бұрын

Thank you for putting this very useful content here for free. You are a great teach with the way you simplify the concept. Thank you

@efiwecpa 7 ай бұрын

Thank you! 😊 🙏

@renniekufakunesu6254 8 ай бұрын

You just saved a life!!! Literally!

@efiwecpa 7 ай бұрын

😃😃😃 Glad to hear. Thanks 🙏

@debarunkumer2019 8 ай бұрын

Please share the Excel file with your calculations for practice. Thanks

@sampongfred1118 Жыл бұрын

Welcome back. You are missed

@efiwecpa Жыл бұрын

Thank you!!

@akinwumiayodeji2621 Жыл бұрын

Welcome back Efiwe

@efiwecpa Жыл бұрын

Thank you!

@jnkvngz2965 Жыл бұрын

excellent video!

@efiwecpa Жыл бұрын

Thanks!!

@islamaroudtheworld 4 ай бұрын

great !

@victorynyarkoh5534 Жыл бұрын

Please in calculating the historical rate, assuming you went as far back two years and you had a bad debt in the first year for a particular bucket but in the subsequent period there is no bad debt for that bucket. How do you calculate the credit loss for the current year you are auditing?

@efiwecpa Жыл бұрын

If you went as far back 2 to 3 years then you would determine the loss rate for each of the years, and once done, you would combine the rates and determine the average. The average rate will be applied to the current year for that particular bucket.