IFRS 7 - Toolkit
The publication of IFRS 7 Financial Instruments: Disclosures brought about a substantial increase in the minimum requirements for the disclosure of financial instruments that apply to all capital market-orientated companies from the 2007 fiscal year at the latest. In this context, independent risk reporting also became obligatory for the first time.
IFRS 7 relates to all financial instruments. It is therefore irrelevant whether a reporting company possess only a few or a large number of instruments. The extent of disclosure is determined purely by the size of the risk exposure.
The core purpose of IFRS 7 is the disclosure of financial statement data to highlight the importance of financial instruments to the financial and earnings situation of a company.
Moreover the publication of sensitive information about risk control and risk management is also required. A distinction must be made here between qualitative and quantitative disclosures in the categories “credit / default risk”, “liquidity risk” and “market price risk”.
In order to support the extensive and time-consuming process of determining fair values on the basis of historical and current data (exchange rates and interest structures) and taking into account product specifications (e.g. durations, currencies, nominal values), FAS AG has developed an MS Excel-based IFRS 7 Toolkit which can be easily adapted to your individual requirements.
Using freely configurable interest and exchange rate structures, the IFRS 7 Toolkit also enables companies to perform fair value-based scenario and sensitivity analyses. This even allows the effects on earnings and equity resulting from diverse financial instrument portfolios to be presented in a structured, IFRS-compliant way. The choice of either English or German as the user interface language also allows it to be used at an international level.
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You can request further information about the IFRS 7 Toolkit using the link on this site or our contact form.
