(Fully Booked) BDO Webinar: COVID-19 and challenges around ECL estimation under HK/IFRS 9

Date: 22 June 2020 (Cantonese Session) - Fully Booked / 24 June 2020 (English Session)
Time: 14:30 - 15:30

  

  • Summary

The effects of the COVID-19 pandemic have significant implications for economies globally, including volatility and possible material uncertainties. Such unpredictable circumstances present additional challenges for preparers when applying the requirements of HK/IFRS 9 expected credit losses (ECL).

ECL accounting is designed to incorporate forward-looking information that is available without undue cost or effort at the reporting date. COVID-19 not only affects the accounting for ECL for banks, corporates will also face similar challenge. Estimates of ECL in light of COVID-19 will be subject to greater levels of uncertainty. This highlights the need to apply ECL well and use those assumptions that are most reasonable and supportable in the current environment.

This webinar will highlight the ECL requirements, the measurement of ECL under stressed economic conditions, together with some insight as to how best to address them in times of heightened uncertainty.

 

About the speakers

SIMON RILEY​, Director and Head of Financial Reporting Advisory, BDO (English Session)

In his role, with operational responsibility for BDO's system of quality control, Simon is focusing on various projects arising from recent internal and external reviews, coordinating quality reviews of BDO on an on-going basis as well as dealing with quality-related issues when they arise.

Simon has over 25 years of experience in technical accounting, quality and standard-setting with large international accounting firms and standard setters in a number of countries. Most recently he was with the HKICPA as Director of Standard Setting which included responsibilities for implementing and operating the due process by which financial reporting, auditing and ethical requirements are set in Hong Kong. Previously, as Technical Director of an international network, he advised member firms on implementing and operating ISQC 1-compliant systems of quality control, performed quality control reviews, as well as provided technical support to the network's International Auditing Practices Committee.

Simon is a Chartered Accountant (New Zealand) and Chartered Secretary.

 

WINNIE CHAN, Principal of Financial Reporting Advisory, BDO (Cantonese Session)

In her role, Winnie is focusing on advising clients on the practical implementation of new accounting standards.

Winnie has over 16 years of experience in the accounting profession. Before joining BDO, she was with the HKICPA as Associate Director of Standard Setting. Her key responsibilities at HKICPA involved taking lead in standard setting initiatives in HKFRS projects, handling HKFRS interpretation issues, liaising with regulatory bodies on HKFRS related matters, and providing training on the latest developments of accounting standards.

Winnie has extensive experience in providing assurance services. During her time with international firms, she worked with a wide range of clients including listed, privately owned groups as well as public sector clients.

Winnie is a Hong Kong Certified Public Accountant, Fellow member of the Institute of Chartered Accountants in England and Wales and Chartered Secretary.

 

Further information
This event will incorporate slides which you can view on a PC and audio broadcast technology which requires only the speakers in your device. Therefore, on the day, please ensure the audio volume of your device is turned up. You are recommended to log in the webinar (which will be provided by email after your successful registration) a few minutes before the webinar starts to make sure you have no problem with the connection. 

 

Details are as follows:

Date & Language
 
: (Fully Booked) Monday, 22 June 2020 - Cantonese Session (supplemented with English presentation materials) 
Wednesday, 24 June 2020 - English Session
 
Time : 2:30pm - 3:30pm (Webinar session)
Fee : Free of Charge
CPD Units* : 1 hour
Remarks : 1. For any enquiries, please contact contact Kiki Ho at +852 2218 8913 or kikiho@bdo.com.hk.  
    2. Login information will be sent to you by email after successful registration.
    3. BDO reserves the final right of acceptance of registration.