When you have to be right

Financial Services

OneSumX IFRS 9
The International Accounting Standards Board (IASB) IFRS 9 project addresses
classification and measurement, impairment methodology and hedge
accounting. The implementation of the new full IFRS 9 standard will
have a considerable impact not only on IT systems, but also on people,
policies and procedures.

Our IFRS 9 functionality is part of our Impairment and the expected credit
comprehensive and modular OneSumX IFRS losses model
solution, which provides the financial industry In support of the expected credit losses model
with a solid framework to capture and store within IFRS 9, our solution will include:
all relevant contractual information, manage
events and transactions, IFRS calculations, • Historical tracking of movements between
accounting generation and processing up to any of the three stages on a portfolio and
the delivery of the disclosures. individual level
• Accounting schemes that include the logic
Specific IFRS 9 functionality includes: for the expected credit losses over the full
instrument’s lifecycle
Classification and measurement • Support for calculaton and subsequent
In support of the classification and accounting processing of credit-adjusted
measurement within IFRS 9, our solution effective interest rate (EIR), amortized cost
includes: and effective interest for purchased or
originated credit-impaired instruments
• A ‘cash-flow characteristic’ test to assess
eligibility to measurement at amortized cost. Hedge accounting
• Pre-defined IFRS 9 classification We are monitoring the development of the
business rules ongoing hedge accounting project, assessing
• An amortized cost-calculation engine with the impact that the new hedge accounting
built-in support for debt restructuring, standard will have on our existing IAS 39
below-market loans and wide variety of hedge accounting solution and matching it to
product lifetime events maintain compliance with the new model.
• Fair value measurement techniques
• Support for storing and reporting on the
Fair Value Hierarchies (IFRS 13)
• A complete set of IFRS 9 compliant
accounting schemes
 Disclosures requirements
• We support the IFRS regulatory disclosures subledger and powerful reporting tools,
for many local supervisors across the globe, positions us for full compliance with IFRS 9
such as Europe’s FINREP. and other IFRS disclosures. The solution
• By combining the lifecycle information on offers full transparency and traceability that
each individual financial instrument with a fully satisfies internal and external audit
transparent and auditable contract level IFRS needs.

OneSumX IFRS
OneSumX IFRS functional
Functional architecture
Architecture

SOURCE DATA LAYER EVENT MANAG EMENT IFRS ACCOUNTING USER EXPERIENCE
SYSTEMS
Business Event detection Accounting events Entity & CoA
events management
Accounting engine
VALUATION ENGINES
IFRS schemes IFRS CoA
Contracts Cash flows
Valuations
Multi-GAAP journals
FX translation

Reporting derivation
Positions
Positions
IFRS TREATMENT
Multi-GAAP subledger
Re-classification Periodic/day/intraday @
Multi-position key
Reference Fees and charges
data
IFRSCALCULATIONS
General ledger(s)
Amortized cost
Market rates
and prices Impairment IFRS
Hedging Consolidation

Data validation Reconciliation History management Workflow

Data enrichment Security/access control Documentation Web based
Audit trail Version control Business rules Open and exportable

About Wolters Kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and
services for the healthcare; tax and accounting; governance, risk and compliance; and legal and
regulatory sectors.

Wolters Kluwer reported 2019 annual revenues of €4.6 billion. The group serves customers in
over 180 countries, maintains operations in over 40 countries, and employs approximately
19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and
are included in the AEX and Euronext 100 indices.

© 2020 Wolters Kluwer Financial Services, Inc. All Rights Reserved.

For more information visit www.wolterskluwer.com/en/solutions/onesumx-for-finance-risk-

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When you have to be right