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Why IFRS 9 Matters for URA

IFRS 9 is not merely an accounting standard for revenue authority officers. It is a framework through which management estimates future credit losses, records an impairment expense and changes reported profit. The revenue-authority question is therefore not “…

Curriculum
12 modules · 223 lessons · 4 assessments
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Why IFRS 9 Matters for URA
IFRS 9 is not merely an accounting standard for revenue authority officers. It is a framework through which management estimates future credit losses, records an impairment expense and changes reported profit. The revenue-authority question is therefore not “Is IFRS 9 allowed?” The better question is: “What evidence supports the assumptions that produced this number, and what amount is legally relevant for tax?”

Curriculum

12 modules · 223 lessons · 4 assessments

01Module 1: Why IFRS 9 Matters for URA13 items
  1. LessonLearning outcomes
  2. LessonStart with the economics, not the accounting jargon
  3. LessonHow ECL reaches the tax computation
  4. LessonWhy IFRS 9 creates significant audit risk
  5. LessonThe six major judgement points
  6. LessonMacroeconomic assumptions: where accounting meets economics
  7. LessonManagement overlays: URA’s high-value audit area
  8. LessonThe supervisory best-practice benchmark
  9. LessonPractical audit extract
  10. LessonThe URA audit approach in one page
  11. LessonWhat an excellent URA officer should remember
  12. QuizTen-question knowledge check – Module 1: IFRS 9 for URA
  13. LessonCase study: Victoria Horizon Bank Ltd
02Module 2: IFRS 9 Core Principles: Classification, Measurement and Expected Credit LossModule 2:32 items
  1. LessonPurpose of this module and the big picture
  2. LessonWhat is a financial asset
  3. LessonThe business model test
  4. LessonThe contractual cash-flow (SPPI) test
  5. LessonAmortised cost
  6. LessonFair Value through Other Comprehensive Income and Fair Value through Profit or Loss
  7. LessonThe general impairment model and the three stages
  8. LessonSignificant Increase in Credit Risk
  9. LessonDefault
  10. LessonExpected Credit Loss and Probability of Default
  11. LessonLoss Given Default
  12. LessonExposure at Default
  13. LessonCalculating Expected Credit Loss
  14. LessonDiscounting
  15. LessonStage 3 and purchased or originated credit-impaired assets
  16. LessonTrade receivables, loan commitments and financial guarantees
  17. LessonWorkbook connection
  18. LessonThe ECL audit formula and ten common technical errors
  19. LessonIFRS 9 versus FIA and financial statement effects
  20. LessonRevenue Authority question, materiality and a practical reperformance example
  21. LessonPractical Stage 2 example and audit evidence by component
  22. LessonPractical management interviews
  23. LessonCase study: Eastern Horizon Bank
  24. LessonCase discussion questions
  25. LessonPractical extract: how one loan flows through the workbook, and why this matters for tax
  26. LessonModule 2 field checklist
  27. LessonKey technical distinctions
  28. LessonTen-question quiz
  29. LessonQuiz answer key
  30. LessonIntegrated case study
  31. LessonIntegrated case study discussion questions
  32. LessonModule 2 summary, best-practice principles, key takeaways and technical references
03Module 3: IFRS 9 AND TAX COMPUTATIONS12 items
  1. LessonFrom accounting profit to the tax claim
  2. LessonThe six numbers: provisions, write-offs and recoveries
  3. LessonSection 24 and the legal test for bad debts
  4. LessonBuilding the tax computation: the adjustment waterfall
  5. LessonRecoveries, restructuring and evergreening
  6. LessonInside the audit workbook: the Tax_Adjustment sheet
  7. LessonTax-yield discipline and the eighteen red flags
  8. LessonThe loan tax lifecycle: sampling and stakeholder interviews
  9. LessonEvidence hierarchy and worked reconciliations
  10. LessonCase study: Pearl Commercial Bank
  11. LessonDocumentation, checklist and key takeaways
  12. QuizTen-question knowledge check – Module 3
04Module 4: Building the Expected Credit Loss Model - Live Demonstration17 items
  1. LessonPurpose of this module, what IFRS 9 requires, and the Revenue Authority’s model philosophy
  2. LessonDo not start with the formula: preparing and reconciling the portfolio
  3. LessonSegmenting the portfolio
  4. LessonDetermining stage: rules, the five loans, and the Staging_Test workbook
  5. LessonEstimating and building a term structure for Probability of Default
  6. LessonExposure at Default and Credit Conversion Factors
  7. LessonLoss Given Default: collateral, guarantees, costs and discounting
  8. LessonBasic Stage 1 and Stage 2 ECL calculations
  9. LessonForward-looking information and economic scenarios
  10. LessonStage 3 calculation and management overlays
  11. LessonFinal ECL: movement bridge and comparison to taxpayer and FIA
  12. LessonComplete live demonstration: the five-loan portfolio
  13. LessonWorkbook architecture, overrides, sensitivity testing and validation
  14. LessonCommon model weaknesses and the Revenue Authority review sequence
  15. LessonPractical exercise: build a loan from zero
  16. LessonCase study: Equatorial Bank
  17. LessonTen-question quiz, answer key and competence checklist
05Module 5: How Taxpayers Apply IFRS 9 - Banks, Savings and Credit Institutions, Microfinance, Fintech, Telecommunications, Utilities and Large Corporates20 items
  1. LessonPurpose of this module and why the model should follow the business
  2. LessonConfirm the reporting framework before demanding IFRS 9
  3. LessonThree ECL architectures and the simplified approach
  4. LessonBuilding, testing and red-flagging a provision matrix
  5. LessonBanks: the most sophisticated ECL application
  6. LessonSavings and Credit Institutions (SACCOs)
  7. LessonMicrofinance institutions
  8. LessonFintech lending
  9. LessonTelecommunications companies
  10. LessonUtilities
  11. LessonLarge corporates and other sectors (insurance, manufacturing, mining, construction)
  12. LessonSector comparison and the appropriateness test
  13. LessonProvision-matrix best practice and adapting the workbook by sector
  14. LessonRecurring weaknesses in taxpayer ECL models (part 1)
  15. LessonRecurring weaknesses in taxpayer ECL models (part 2)
  16. LessonThe model-selection test, sector diagnostics and benchmarking
  17. LessonSeven practical audit cases across sectors
  18. LessonIntegrated case study: Horizon Group
  19. LessonPractical exercise: selecting and validating the model
  20. LessonEvidence packs and the questions that reveal weak models
06Module 6: IFRS 9 in Audits and Investigations21 items
  1. LessonPurpose of this module
  2. LessonStep 1: Read the financial statements before asking for data
  3. LessonStep 3: Reconcile the model to the general ledger
  4. LessonStep 5: Test source data
  5. LessonStep 6: Identify aggressive provisioning risk
  6. LessonRestructuring timeline
  7. LessonWrite-off red flag: Round number
  8. LessonStep 10: Test collateral
  9. LessonStep 12: Test model overrides
  10. LessonStep 15: Use operational evidence
  11. LessonStep 17: Connect accounting findings to tax
  12. LessonStep 19: Use the assessment workpaper
  13. LessonCase: Management Overlay
  14. LessonCase discussion question 4
  15. LessonPractical exercise: Three-way reconciliation
  16. LessonTen-question quiz
  17. LessonQuiz answer key
  18. LessonAdvanced discussion question 1
  19. LessonModule 6 field checklist
  20. LessonModule 6 key takeaways
  21. LessonBest-practice and technical references
07Module 7: Hands-on Practical Session20 items
  1. LessonPurpose of this module
  2. LessonWorkbook architecture
  3. LessonExercise 2: Review Data_Request_List
  4. LessonExercise 5: Reconcile GCA
  5. LessonExercise 8: Run Staging_Test
  6. LessonExercise 9: Run PD_Test
  7. LessonExercise 11: Run LGD_Test
  8. LessonExercise 13: Run Overlay_Test
  9. LessonExercise 15: Sort by ECL variance
  10. LessonExercise 19: Review write-off evidence
  11. LessonExercise 22: Create a case reference
  12. LessonExercise 26: Open dashboard
  13. LessonStep 1: Stage
  14. LessonStep 8: Interpret the difference
  15. LessonWhat is a strong audit difference?
  16. LessonPractical session: Individual task 1
  17. LessonCase task 6: Overlay
  18. LessonPractical competence standard
  19. LessonThe top investigator insight
  20. LessonModule 7 key takeaways
08Module 8: Sector-specific Applications23 items
  1. LessonPurpose of this module
  2. LessonDo not confuse simplicity with weakness
  3. LessonBanking audit: Loss given default
  4. LessonSavings institution segmentation
  5. LessonDigital-lending model
  6. LessonConsumer receivables
  7. LessonHousehold receivables
  8. LessonCustomer concentration
  9. LessonRelated-party loan example
  10. LessonGuarantee example
  11. LessonHow the revenue authority changes its audit approach
  12. LessonSector-specific interview: Bank
  13. LessonCross-sector management overlays
  14. LessonPractical exercise 5: Telecom
  15. LessonPractical exercise 8: Financial guarantee
  16. LessonManufacturing finding
  17. LessonCase question 6
  18. LessonTen-question quiz
  19. LessonQuiz answer key
  20. LessonModule 8 field checklist
  21. LessonThe top revenue authority insight
  22. LessonModule 8 key takeaways
  23. LessonBest-practice and technical references
09Module 9: IFRS 9 for Investigators22 items
  1. LessonPurpose of this module
  2. LessonReconstructing a taxpayer model
  3. LessonSource evidence hierarchy
  4. LessonTrace connected parties beyond the register
  5. LessonRestructure red flag: Dpd reset
  6. LessonManagement overlay as investigation target
  7. LessonTax link: Bad debts
  8. LessonConnected-party cash-flow tracing
  9. LessonWrite-off recovery test
  10. LessonPeople to interview
  11. LessonQuantify every material finding
  12. LessonCase: Tax Link
  13. LessonCase discussion question 1
  14. LessonCase question 7
  15. LessonPractical exercise: Connected party
  16. LessonTen-question quiz
  17. LessonQuiz answer key
  18. LessonAdvanced case question 1
  19. LessonPractical competence test
  20. LessonModule 9 investigation checklist
  21. LessonThe top legal-evidence insight
  22. LessonModule 9 key takeaways
10Module 10: Scenario Testing and Stress Analysis22 items
  1. LessonSensitivity analysis
  2. LessonPurpose of this module
  3. LessonStep 2: Test the statistical relationship
  4. LessonStep 5: Determine scenario weights
  5. LessonStep 7: Map macro variables to PD
  6. LessonStep 11: Calculate scenario ECL
  7. LessonStep 13: Review cross-scenario consistency
  8. LessonStep 15: Stress testing
  9. LessonStep 16: Reverse stress testing
  10. LessonStep 17: Test management overlays after scenarios
  11. LessonStep 20: Compare with internal forecasts
  12. LessonScenario manipulation risk: Forecast horizon
  13. LessonCase discussion question 1 (Part 1)
  14. LessonPractical case: Property
  15. LessonCommon weakness 4: Scenarios do not move LGD
  16. LessonTen-question quiz
  17. LessonQuiz answer key
  18. LessonCase discussion question 1 (Part 2)
  19. LessonPractical competence test
  20. LessonModule 10 field checklist
  21. LessonModule 10 key takeaways
  22. LessonBest-practice and technical references
11Module 11: Model Governance and Audit Readiness23 items
  1. LessonPurpose of this module
  2. LessonIFRS 9 does not prescribe one model
  3. LessonECL committee responsibilities
  4. LessonMinimum PD model documentation
  5. LessonValidation red flag
  6. LessonModel stability
  7. LessonValidity
  8. LessonChange freeze around year-end
  9. LessonExternal audit
  10. LessonThe assumption register
  11. LessonPractical model change example
  12. LessonPost-year-end changes
  13. LessonQuestions to ask internal audit
  14. LessonIntegrated case study: Great Lakes Bank
  15. LessonCase discussion question 1
  16. LessonTen-question quiz
  17. LessonCase question 8
  18. LessonAdvanced case question 1
  19. LessonQuiz answer key
  20. LessonAdvanced case question 7
  21. LessonModule 11 key takeaways
  22. LessonModule 11 field checklist
  23. LessonPractical competence standard
12End-of-Training Assessment2 items
  1. QuizEnd of Training Evaluation: Participant Satisfaction Survey
  2. QuizEnd of Training Examination: IFRS 9 for Revenue Authority Officers 2 hours

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