Some Afreximbank Board Members and Bank President Prof. Benedict Oramah (R) during the training on IFRS 9 Financial Instruments in Kampala
The African Export-Import Bank (Afreximbank) today in Kampala held a training session on the IFRS 9 Financial Instruments for the members of its Board of Directors in an effort to quip them to perform their roles more effectively.
The training, delivered on the sidelines of the ongoing quarterly meetings of the Board, takes into account that the Bank has started implementing the standard and that its application and implications have become clearer.
The training, carried out by KPMG Nigeria, covered such topics as the background to IFRS 9, the key principles and the financial and business implications of IFRS 9 for Afreximbank.
IFRS 9 Financial Instruments, issued on 24 July 2014, is an International Financial Reporting Standard published by the International Accounting Standards Board which addresses the accounting for financial instruments. It contains three main topics: classification and measurement of financial instruments, impairment of financial assets and hedge accounting.
Discussion during the training on IFRS 9 Financial Instruments for Afreximbank Board members in Kampala.