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 Subject :New Platform Technology in Financial Report Field Launched.. 20-09-2017 00:04:01 
Joined: 20-09-2017 03:53:59
Posts: 23
Emerio, an IT solution provider, provides support to the Indonesian financial industry to implement IFRS 9 by presenting Emerio Regla IFRS 9. IFRS 9 or in Indonesia known as PSAK 71 is a new standard of financial reporting that will replace current standards (IAS 39 or PASK 55). This standard will apply in Indonesia by 2020.

"The challenges faced in implementing IFRS 9 are the availability of data and data quality, the ability of banks to make predictions by using risk management technic and the importance of statistical tools to support these calculations," said Emmanuel President Director Michael Tanong on Thursday (14/9) .

According to him, the current Indonesian economy is increasingly connected to the world economy. Therefore, Indonesia is a country that is part of the global business community, where the relationship between countries in an increasingly integrated international.

In the aspect of accounting and finance standards, Michael considers that Indonesia must use accepted and accepted accounting and financial standards around the world. That is why, Indonesia has in recent years intensively promoted the use of financial accounting standards that have converged with IFRS in public entities in Indonesia.

One of the most significant changes in IFRS 9 is the paradigm shift from backward looking to forward looking. This concept originated from one study of the financial crisis in 2008 where the concept of reserve in the current IAS 39 is considered too little and too slowly reserved.

"Changes in financial reporting and accounting require banks and other financial services institutions to be ready and make changes," he explained.

Michael claims Regla is a solution platform to support the financial industry in terms of thorough transformation to generate strategic business decisions. Regla provides tv online indonesia end-to-end solutions with adaptation to the latest technologies and is available in a variety of flavor technology databases, operating systems, and infrastructure including the cloud.

"Regla answers the needs of Emerio's clients, of which 90 percent are banking and financial institutions, related to calculation requirements, reporting to regulators, both the Financial Services Authority (OJK) and Bank Indonesia (BI), as well as the internal needs of banks, or reporting to business groups, "Said Michael.

Furthermore, Michael Tanong revealed that banks and financial institutions can conduct a thorough analysis of the financial aspects required by regulatory and IFRS standards. This includes the preparation and processing of data, complete calculations, quick and accurate, and comply with regulation, and represents the information generated in the desired form of reporting.

"Of course, it is significantly more effective due to the automation process to replace the manual process which has been a challenge for each bank and other financial institutions," he explained.

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 Subject :Re:New Platform Technology in Financial Report Field Launched.. 23-09-2017 03:17:26 
Joined: 24-05-2017 03:45:21
Posts: 483

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