IFRS 9 replaced the incurred loss model with a forward-looking expected credit loss approach — and that shift created one of the most judgement-intensive areas on any audit file. This course gives auditors a practical framework for assessing ECL models, challenging management's assumptions, and ensuring IFRS 9 disclosure requirements are met.
The problem most audit teams don't talk about
- ECL calculations depend heavily on forward-looking information and macroeconomic assumptions — areas where management has significant discretion and auditors often lack a structured challenge approach.
- Many auditors verify the mechanics of the ECL model without adequately assessing whether the underlying assumptions and inputs are appropriate.
- IFRS 9 disclosure requirements are frequently incomplete or insufficiently audited, creating exposure on the audit file.
What you'll be able to do after this course
- Assess the appropriateness of management's ECL estimates, assumptions, and forward-looking inputs
- Apply a structured audit approach to ECL models across both planning and fieldwork
- Evaluate compliance with IFRS 9 presentation and disclosure requirements
- Identify and respond to common ECL errors before they reach the audit report
Price: $26
Elevating the standards of all auditors and those seeking to become auditors by upholding the principles of legislation, regulation, and quality audit management and performance.
Quests Curriculum
- 8 Levelss
- Coaching By LEAF
- Communities Support
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Levels 01 Introduction to the IFRS 9 ECL Framework
The shift from incurred to expected loss — why ECL exists, what IFRS 9 requires, and the key audit challenges auditors face across planning, fieldwork, and disclosure. Mission(s) included: 1. Welcome & Introduction
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Levels 02 IFRS 9 – ECL Framework
What IFRS 9 is, why it replaced IAS 39, and its three key components — with a focus on the expected credit loss impairment model and its implications for financial reporting. Mission(s) included: 2. IFRS 9 ECL Framework
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Levels 03 Audit Planning
How to identify ECL-specific risks at the planning stage — assertions at risk, high-risk areas including management bias, data integrity, and model validation, and the audit evidence to obtain before fieldwork begins. Mission(s) included: 3. Audit Planning
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Levels 04 Audit Fieldwork
Practical audit procedures for the ECL calculation — the simplified and general approaches, testing PD, LGD and EAD assumptions, evaluating forward-looking information, and substantive ECL testing. Mission(s) included: 4. Introduction, 5. Simplified Approach, 6. General Approach
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Levels 05 Use of Experts
When management uses an expert for ECL, auditors must evaluate their competence, objectivity, and work — not accept it at face value. Covers ISA 500 and ISA 620 for both management and auditor's experts. Mission(s) included: 7. Experts
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Levels 06 Presentation, Disclosure
Auditing ECL disclosures under IFRS 7 and IFRS 9, applying IAS 1 requirements. Mission(s) included: 8. Presentation & Disclosure
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Levels 07 Common Errors
Avoiding the common errors most frequently flagged in LEAF file reviews and regulatory inspection findings. Mission(s) included: 9. Common Errors
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Levels 08 Final Quiz
Score 80% or higher to complete the course and earn your verifiable LEAF Bronze CPD Certificate in auditing expected credit losses under IFRS 9. Mission(s) included: 10. Quiz