IAS 39 Audit Process-Workflow

This solution operates in conjunction with a certification scheme for software application vendors, solution providers, banks and other organisations.
This framework will considerably help corporate entities with their IAS39 compliance, governance and risk management challenges and avoid costly penalties.

Peach links its unique compliance maps and audit checklist templates with the above process workflow in order to integrate this information into any IAS39-related system, regardless of type or vendor.

IAS 39 addresses the accounting for financial assets and financial liabilities, dealing with the following areas:
• Recognition of a financial asset or financial liability in the balance sheet
• De-recognition of a financial asset or financial liability from the balance sheet
• Classification of a financial asset or financial liability into different categories, and their measurement
• Whether a gain or loss on a financial asset or financial liability should be recognised either in profit or loss, or in reserves.

IAS39 is affected by and affects the company’s balance sheet, Basel II, Sarbanes-Oxley Act, MiFID (Markets in Financial Instruments Directive), Solvency II Accord, Asset & Liability Management (ALM), Anti-Money Laundering (AML), and other related frameworks.

Instead of working in a silo, we can cross reference IAS39 to the other relevant frameworks for overlaps, thus integrating IAS39 with other self-attestation audit questionnaire checklists and processes, and avoiding duplication or triplication of information and implementation costs.

This solution and other solutions of Peach are based on Dr Abe Abrahami’s 34 year-experience and know-how that have helped blue chip companies and government agencies to save or increase revenue by an estimated $300 million US dollars.
Peach solutions also incorporate essentials from Dr Abrahami’s book on Compliance & Change Management.

The Institute of Management Specialists and Ansted University accredit and validate Peach’s best-practice, proven and successful techniques and training courses.