Service

KPMG - Global Credit Loss Accounting Solutions (gCLAS)

gCLAS is designed to help you anticipate, prepare for and meet increased compliance challenges by automating your expected credit loss modeling, accounting, and reporting functions – freeing you up to focus on the strategic implications of IFRS 9.

 

 

 

Tom Wilde

Tom Wilde

Principal, Spectrum Leader, KPMG US

+1 703-286-8490

Jorge Blanco

Jorge Blanco

Principal, Advisory, KPMG US

+1 212-872-2173

David Brown

David Brown

Principal, Advisory, Managed Services, KPMG US

+1 314-803-5369

Benefits



Streamlined IFRS 9 compliance



Customizable, transparent and easy to use, KPMG gCLAS is an innovative, user friendly accounting functionality that is designed to assist with compliance through leading automated practices.



Automated credit loss accounting


The gCLAS accounting engine automates the functions for expected credit loss modeling, accounting and reporting – including the generation of journal entries and financial statement disclosure reports.



Reduced resource burden


Want to avoid the possible pain, time and cost of building your own solution? Jump start with KPMG gCLAS – we believe it is a remarkably powerful impairment accounting and credit risk management tool. gCLAS is designed to offer a fast start, helping you to anticipate and prepare for the organizational, methodological, procedural and governance changes required to be compliant by 2018 as per IFRS 9. 

Features

 

Get greater insights into the risk inside your asset portfolio.

 

KPMG gCLAS doesn’t just help you achieve IFRS 9 compliance, but creates opportunities to rethink pricing and business or investment strategies based on a more complete understanding of risk.

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gclas

Bridge the gap between accounting and risk.

 

KPMG gCLAS acts as a central hub for data required by risk and accounting experts. Helps to dramatically simplify the task of determining the drivers behind reserve or portfolio changes.

gCLAS helps you overcome organizational and procedural hurdles.

 

By helping you recognize and analyze the impact of new regulations before they go into effect—well before anything hits the P&L—KPMG gCLAS gives you time to prepare and react while you still have the time.

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Capitalize on regulatory changes

There are big changes ahead in accounting standards for credit impairment—both global and, later, in the U.S.—that will transform the way financial institutions conduct business. Do you have the capabilities to get ahead of the pack? KPMG Spectrum gCLAS can help.

 

What gCLAS provides

KPMG gCLAS helps you focus on the strategic implications of IFRS 9. It offers banking institutions an immediate solution that can work alongside legacy systems as a stand-alone expected credit loss calculator and accounting engine—helping you anticipate and prepare for the organizational, methodological, procedural and governance aspects of IFRS.

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This advanced tool is customizable, transparent, scalable, and easy to use:

  • An innovative, user-friendly solution that simplifies compliance through leading practices
  • A methodology for calculating current expected credit losses under IFRS 9 (and subsequently the FASB Current Expected Credit Loss standard)
  • Extensive reporting and analytics capabilities including disclosure requirements 

gCLAS focuses on four major priorities:

  • Expected Credit Loss Modeling that is robust, flexible and transparent and can help you generate projected loss and prepayment forecasts
  • Accounting for Impaired Assets above and beyond the calculation of expected loss
  • IFRS 9 Stage Assignment and Tracking monitoring credit quality and determining the Expected Credit Loss horizon, with maximum flexibility
  • Cash Flow Projections that are automated, using KPMG’s proprietary methodology

Knowledge center

An established track record in credit risk accounting

gCLAS helps you meet the complex global challenge of IFRS 9 compliances.

 

 

Avoid the pain and cost of building your own solution.

gCLAS addresses your credit loss impairment challenges.

KPMG gCLAS enables the measurement and recognition of asset impairment by automating both the expected credit loss and accounting functions.

 

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