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
$26.00 · or your first mission FREE
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