The      Accounting Advisory Services (AAS) team at BDO India is pleased to share, 'THE STANDARD STANCE' - An expert insight into key accounting matters. Each monthly issue of the publication spotlights and discusses a key accounting matter noteworthy for organisations to stay ahead in their business journeys.

This issue of THE STANDARD STANCE, 'OVERVIEW AND CHALLENGES IN IMPLEMENTING THE ECL MODEL UNDER IND AS 109', outlines key considerations and implementation challenges related to the Accounting Standard.

The implementation of the ECL model marked a significant shift from the previous incurred loss model, introducing a more forward-looking approach to credit loss recognition. The model represents a significant advancement in how credit risk is measured and managed, and requires financial institutions to adopt a more comprehensive approach, considering a wide range of factors, from economic forecasts to borrower-specific information. This publication explores impairment approaches, and assessment of SICR, among other critical aspects, to help organisations understand and implement an effective ECL model under IND AS 109.

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