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Specialist from SAS advise the IFRS9

     Recently, Mr. Taveesak Saengthong, Managing Director of SAS Software (Thailand) Co., Ltd. (right) welcomed Mr. Tariq Beg, Regional Sales Specialist  Risk Management  South Asia, SAS.  He is here to advice for the International Financial Reporting Standards (IFRS9) to media, since the International Accounting Standards Board (IASB) has announced the IFRS9 standard will be effective from January 1st, 2018 onward.
     In this new financial standard, IASB emphasized the work in 3 main parts including provision in classification and measurement of financial assets, reporting on impairment of assets, and accounting for risk protection in financial statement. Many specialists foresee that IFRS9 will strongly impact banking and insurance groups which they have to start preparing the system since now.