Credit Unions E-Learnings
These IFRS 9 resources have been provided to assist credit unions in becoming familiar with the new standard and planning its implementation.
The International Accounting Standards Board (IASB) published the final version of IFRS 9 Financial Instruments in July 2014. IFRS 9 Financial Instruments replaces IAS 39 Financial Instruments: Recognition and Measurement, and is effective for annual periods beginning on or after January 1, 2018.
The new standard aims to simplify the accounting for financial instruments and address perceived deficiencies highlighted by the recent financial crisis.
Solutions for Your Success
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IFRS Snapshot: IFRS 9 Financial Instruments
This is a four-page summary of IFRS 9 and should be used as a quick reference guide to the key requirements of the standard. It is effective as a first port of call to determine the treatment of transactions under IFRS 9 but note this is not a complete summary of the standard.
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An Overview of IFRS 9 Versus IAS 39 Financial Instruments: Recognition and Measurement
The purpose of this guide is to highlight the significant differences between IFRS 9 and IAS 39 that may be important to credit unions.
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An Overview of the New Financial Asset Classification and Measurement Requirements of IFRS 9 Financial Instruments
The purpose of this guide is to highlight relevant requirements and provide examples to help classify financial assets into the appropriate measurement categories under IFRS 9. The guide focuses on key issues that may affect credit unions, which will be significantly impacted.
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An Overview of the Impairment Requirements of IFRS 9 Financial Instruments
This document highlights the objective of the impairment methodology and the key differences between IAS 39 and IFRS 9 impairment models. It also provides an overview of the impairment requirements and illustrative examples to assist in the application of the new IFRS 9 expected credit loss model.
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IFRS 9 Impairment Comprehensive Example
This comprehensive example is provided to assist credit unions in applying the IFRS 9 expected credit loss model. This example is also included in Appendix B of the Impairment guide above.
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An Overview of the Hedging Requirements of IFRS 9 Financial Instruments
This document highlights the key differences between the IAS 39 and IFRS 9 hedge accounting models as well as provides an overview of the requirements of the new IFRS 9 hedging model.
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An Overview of the Transitional Requirements of IFRS 9 Financial Instruments
This document highlights the relevant IFRS 9 transition requirements and provides application guidance, including examples, to ensure a smooth transition to IFRS 9.
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Contact our Credit Unions Team
Annette Bester CPA, CA, CIA, ICD.D
Partner, National Credit Union Leader
Annette is MNP’s National Credit Union Leader and an Audit Risk Partner in the firm’s Saskatoon office. A business advisor with more than 25 years of experience, she works closely with credit unions and business clients, supporting them and helping them strengthen their leadership, knowledge, and financial positions.
Annette helps provide the vision and strategy steering MNP’s Credit Union Services group — one of Canada’s largest — to provide accounting, tax, and advisory services to more than 140 credit unions across Canada.
Her experience has led to her exceptional understanding of credit unions and the members they serve. To further support the credit union sector, she works closely with national and provincial credit union organizations with a vision to support and strengthen credit union leadership, significantly enriching local communities.
Annette also delivers audit, review, and business consulting services to owner-managed and Indigenous owned businesses in diverse industries. She provides advice on technical accounting and business issues, helping ensure clients’ financials remain strong and compliant with reporting requirements.
Annette obtained an Honours Bachelor of Commerce (BComm) from the University of Saskatchewan in 1999. She is a Chartered Professional Accountant (CPA), qualifying as a Chartered Accountant (CA) in 2002. She completed her Certified Internal Auditor (CIA) designation in 2020, and in 2021, completed the ICD-Rotman Directors Education Program and received her ICD.D designation from the Institute of Corporate Directors.
Annette is passionate about improving the financial well-being of credit union members and communities. As a past board member (2018 – 2020) of Saskatchewan Capital Network, Annette worked to enhance Saskatchewan’s start-up ecosystem by connecting investment-ready companies to investors. As a past board member of Conexus Credit Union (2020 - 2023) she helped ensure strong governance and risk management through her time on various committees.