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The introduction of a forward-looking expected credit loss (ECL) model under IFRS 9 has resulted in an earlier recognition of credit losses as compared to the incurred loss model under IAS 39. However, there is complexity in the adoption of ECL model as significant judgment is required for the incorporation of forward-looking information and determination of significant increases in credit risks. Noting the challenges faced by entities in measurement of ECL, ISCA urged the IASB to consider more practical expedients, with a focus on specific provisioning instead of general provisioning.
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