PwC AWM Insights IFRS for asset & wealth management

PwC AWM Insights
IFRS for asset & wealth management
Asset managers and fund companies are now playing on a field marked by turbulent markets and complex
regulatory reform. In this kind of environment, a trusted advisor with a balanced, comprehensive and
international perspective can be an invaluable resource.
Offsetting for Investment Funds
The IAS 32 and IFRS 7 offsetting amendments have required investment funds to (i) reassess when
they offset financial instruments for accounting purposes; and (ii) analyse what additional financial
statement disclosures in relation to offsetting may be required.
http://pwc.to/1FtlFsc
IFRS 9 Hedging in practice
Many companies are now considering IFRS 9, the new accounting standard on financial
instruments, addresses all the relevant aspects on the accounting for financial instruments,
including classification and measurement, impairment of financial assets and general hedge
accounting. This publication presents a number of FAQs and focuses on just one topic in
IFRS 9: general hedge accounting.
http://pwc.to/1V94jYM
IFRS 13 Disclosure requirements – Questions & Answers
IFRS 13 expanded the guidance on assessing fair value measurements within the three levels of the
fair value hierarchy which was originally introduced in IFRS 7. As a result, the classification as Level 1,
Level 2 or Level 3 became required for nonfinancial assets and liabilities measured at fair value and
disclosures of fair values in the notes to the financial statements.
http://pwc.to/1LNqEkj
Practical Guide
In depth – IFRS 7 and IFRS 13 disclosures (May 2014)
Investment funds, PE funds, RE funds and investment managers will be impacted by recent
amendments to IFRS 7 Financial Instruments: Disclosures, including disclosures that have been
transferred to IFRS 13 Fair Value Measurement. The amendments relate to transfers of financial
assets and offsetting assets and financial liabilities.
http://joom.ag/7mZb
A practical guide to IAS 32 for investment funds (Dec 2013)
The main focus of this publication is on the amendment to IAS 32 and IAS 1, “Puttable financial
instruments and obligations arising on liquidation” applicable for financial periods beginning on or
after 1 January 2009. Investment funds that issue puttable instruments or for which there is an
obligation to deliver cash or financial instruments that arises on liquidation should evaluate whether
the fund is required to classify the fund’s capital as equity or liability.
http://joom.ag/umZb
A practical guide to IFRS 10 and 12 – Questions and Answers (Nov 2013)
This practical guide sets out our views on some of the most common issues that arise during the
implementation of the new standards. It is an update to – and therefore replaces – the October 2012
edition.
http://joom.ag/ssZb
Practical guide to IFRS 10 – Investment entities:
Exception to Consolidation (Dec 2012)
In November 2012, the IASB published an exposure draft proposing limited amendments to IFRS 9
‘Financial Instruments (2010)’. This practical guide summarises the key proposals and their
implications as compared to the financial instruments classification and measurement model that
exists in IFRS 9 today.
http://joom.ag/SsZb
Practical guide to IFRS – IFRS 10 for asset managers (Jun 2012)
This practical guide sets out a framework for an asset manager to use when interpreting IFRS 10
to determine whether control exists − in particular, the assessment of principal versus agent.
http://joom.ag/ZsZb
In depth – Frequently asked questions: Offsetting financial instruments for investment funds
The IAS 32 and IFRS 7 offsetting amendments have required investment funds to (i) reassess when
they offset financial instruments for accounting purposes; and (ii) analyse what additional financial
statement disclosures in relation to offsetting may be required. This ‘in depth’ sets out our views on
the main questions we are seeing in practice specifically for investment funds.
http://joom.ag/Vkvb
In depth – Investment entities amendment: Exception to consolidation
This publication contains a number of questions and answers on the application of the investment
entities amendment to consolidation and assists the management on the exception to consolidation
and assists the management of real estate structures in whether an entity or entities within those
structures meet the criteria of an investment entity.
http://joom.ag/Okvb
Similarities and Differences
… A comparison of US GAAP and IFRS for investment companies (Feb 2011)
The report, which primarily looks at the accounting and reporting requirements of nonregistered investment companies, is intended to give an understanding of the key similarities
and differences between IFRS and US GAAP. The key divergences are outlined in more
detail and the probable impact of recent proposals explained.
http://joom.ag/EsZb
Illustrative financial statements
Illustrative IFRS financial statements 2015– Investment funds
This publication is based on the requirements of IFRS standards and interpretations for the
financial year beginning on 1 January 2015. There were no new standards or amendments
effective for annual periods beginning on 1 January 2015 which had an impact on the
example fund.
http://pwc.to/1Y12xue
Illustrative IFRS financial statements 2015– Private Equity Funds
This publication is based on the requirements of IFRS standards and interpretations for the
financial year beginning on 1 January 2015. There were no new standards or amendments
effective for annual periods beginning on 1 January 2015 which had an impact on the
example fund.
http://pwc.to/1QGWUNX
Illustrative IFRS financial statements 2015 – Investment property
This publication provides an illustrative set of consolidated financial statements, prepared
in accordance with International Financial Reporting Standards (IFRS), for a fictional
investment property group (IP Group).
http://pwc.to/1Qiqetw
First-time IFRS annual financial statements, investment funds –
An illustration (Second edition) (Oct 2013)
This publication demonstrates the application of the more common IFRS requirements for
first-time annual IFRS financial statements for Canadian investment funds.
http://joom.ag/7mZb
For more information on our global asset management practice,
please visit: www.pwc.com/assetmanagement
Subscribe to our newsletter:
http://pwc.to/1xQSg7w
Join our mailing list:
[email protected]
© 2015 PricewaterhouseCoopers LLP All rights reserved. In this document, “PwC” refers to PricewaterhouseCoopers LLP, which is a
member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.