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South African accounting firm selects Moody’s Analytics for IFRS 9 calculations

Moody's AnalyticsMoody’s Analytics today said that Johannesburg-based accounting advisory firm i9 Partners has selected its solution to provide their clients with expected credit loss (ECL) calculations in accordance with the IFRS 9 accounting standards.

The ImpairmentCalc solution incorporates internal credit risk measures and runs multiple macroeconomic scenarios simultaneously to produce repeatable, auditable, and transparent forward-looking loss allowances.

“The breadth of macroeconomic data provided by Moody’s Analytics allows us to apply credible forward-looking scenarios for clients without the need for massive data samples,” said Laurence Milner, co-founder and director, i9 Partners. “Their expertise, experience, and reputation were also very important to us in selecting a provider; our clients can always rest assured that best practices in credit measurement are being applied.”

i9 Partners provides ECL calculations for IFRS 9 through tools and credit intelligence. It covers financial assets classes with solutions for auditors, smaller companies to large corporates, public sector entities and smaller financial institutions.

“We look forward to working with i9 Partners to provide IFRS 9 ECL calculations to their clients across South Africa,” said Deepak Parmani, director, Moody’s Analytics. “We are delighted that they can leverage our experience in global markets to help their clients meet IFRS 9 requirements.”

Moody’s Analytics provides financial intelligence and analytical tools based on risk expertise, information resources and application of technology. It is a subsidiary of Moody’s Corporation established in 2007 to focus on non-rating activities.

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