AFB Seminar: IFRS 9 Update – Upcoming Amendments Impacting IFRS and UK GAAP Reporting Entities

AFB members are invited to attend an in-person seminar on amendments to IFRS 9 that are effective from 1 January 2026.   Hosted and delivered by public accounting, tax and advisory firm, BDO, the session will focus on the key changes impacting banks.

Entities reporting under UK Generally Accepted Accounting Practice (GAAP) will also find this session useful due to the accounting policy choice that exists under FRS 102 that allows entities to apply the requirements of IFRS 9 and IAS 39 to their financial instruments.

Why attend?

The session will give an overview of the amendments to IFRS 9 and will focus on the following:

• Classification of financial assets

The amendments address the current lack of clarity as to whether the contractual cash flows of some financial assets with ESG-linked features represents cash flows that were ‘Solely Payments of Principal and Interest’.

• Settlement by electronic payment systems (“EPS”)

The IASB has amended IFRS 9 to clarify when a financial asset or a financial liability is recognised and derecognised and to provide an exception for certain financial liabilities settled using an EPS.

Who should attend?

This session is aimed at those working in Finance Reporting and Accounting Policy team as well Financial Controllers and Heads of Finance.

Speakers

Mark Spencer

Mark leads the accounting and corporate reporting advice practice in FS Advisory. Accounting and corporate reporting advisory helps financial institutions and corporates make complex accounting, financial reporting and corporate reporting challenges simpler and easier to understand or interpret, which results in more informed and therefore better decision-making while providing assurance and mitigating risks. He particularly specialises in structuring advice to achieve a desired accounting outcome and financial instrument, insurance contracts and digital assets and liabilities accounting and financial reporting as well as sustainability disclosure matters.

Mark regularly engages with key decision makers across regulatory organisations, bodies of influence and BDO’s peers at national and global levels, particularly in all of these areas, and currently sits on working parties of the UK Endorsement Board and ICAEW. This gives him deep insight into the challenges that financial institutions and corporates face when it comes to accounting, financial reporting and corporate reporting.

Seyi Oshibolu

Seyi is a Director in Financial Services Accounting and Corporate Reporting Advisory. He has over 17 years’ experience in providing advisory and assurance services to banks, investment managers and private equity firms on technical accounting matters arising from capital market transactions such as IPOs, acquisitions and divestitures and other forms of capital raise.

Seyi is a specialist in providing accounting and corporate reporting advice on matters related to GAAP conversions, structuring of transactions and funding, new standards implementation, complex financial instruments, carried interest structures, securitisation arrangements etc.

Please note, you will receive a confirmation of your booking via email within 24 hours. Should you not receive a confirmation, please contact AFB to double check if your booking was successful.

Logistics

Cost:        Included in AFB membership (no fee)

Location: BDO, 55 Baker Street, London, W1U 7EU

Date:        Wednesday 12 March 2025

Time:        15:30 – 17:15 (registration & refreshments from 15:30 – 16.00)

There will be ample opportunity for questions throughout the session, however, if you would like to submit a question before or have any specific questions or areas that you would like the session to address, please send them to the AFB at secretariat@foreignbanks.org.uk as soon as practicable. You will receive details on how to join this in-person session a week before the event.