KnowCo upgrades The IFRS 9 Manager as PRA makes firm recommendations on new ECL models

In April 2019, the Prudential Regulation Authority published “for the benefit of others” its letter to the Chief Financial Officers of selected deposit-takers, outlining their main thematic findings from their IFRS 9 written auditor reporting work. The main requirements relate to the importance of continuous development of, and investment in, ECL methodologies and governance, and “…the best way to address IFRS 9’s requirement to consider multiple economic scenarios”.

At KnowCo, our mission is to provide robust, secure and future-proofed software that facilitates compliance with regulatory expectations. So, KnowCo’s IFRS 9 Technical & Reporting Solution now also offers multiple scenario functionality, as highlighted in this brief video.

Find out more at

KnowCo Ltd is a specialist support resource for financial institutions. All KnowCo systems are purpose-built to support ICAAP, ILAAP, RRP, Risk Appetite Statement development and enhancement, CRR-compliant Pillar 3 Statements, Strategic Business Modelling, and Governance Policies, Processes and Assurance.



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