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IFRS 9: hedge accounting heaven or hell?

IFRS9 was billed as being heaven-sent to corporates who undertake to hedge market risks, presenting not only new opportunities to hedge many more exposures but also to make current hedging mechanics that bit easier. And if IAS39 had never existed, heaven IFRS9 would certainly be. Unfortunately, IAS39 did exist and has done so since 1998. Having become familiar with IAS39, IFRS9 Hedge Accounting adoption may turn out to be hell for some corporates. Systems, auditors, hedge documentation and treasury policies have evolved to ensure compliance with IAS39. Those just about getting comfortable with IAS39, including myself, who do not expect

Treasury, trade and all points in between

Dubai, February 2018 Once again to Dubai for another GTR Trade Finance and Treasury conference. And what a difference a year makes! The trade finance community in the UAE (and wider GCC) is much more positive about growth and investment across the region than this time last year. Delegate polls showed 65% plus votes in favour of more investment in people and technology and rising general business confidence. Yes the price of oil, stable at $60+, has much to do with it but various factors – the impact of reforms in Saudi Arabia, the smooth introduction of VAT in the

#SMARTCASH18: Bandhu Das, HM Treasury

Conferences often fail to get across real learning and relevant lessons you can take back to the office. That’s why for this year’s ACT Smart Cash Management Conference on the 14-15 March, we have recruited four influential, experienced personalities to dive into the content and ensure the audience is provided with fresh thinking in a new format which will regularly meet during the conference: the cashback panel. Conferences often fail to get across real learning and relevant lessons you can take back to the office. That’s why for this year’s ACT Smart Cash Management Conference on 14-15 March in London, we have put together a programme

Gilt yield – time to return to normality, whatever that is

The UK has not usually been known for economic orthodoxy. Yield curves can be inverted for years. Asset values bear no relation to asset replacement costs. Government has foreseen closing down its own funding market. We never saw anything impractical about switching from industry to fund management as an important component of our GDP. These are all situations we have created ourselves. We cannot blame Brussels, although Brexit may yet have an uncomfortable effect on the last. Since 2008 we have nurtured the inversion of Gilt yields and inflation. We target 2% inflation otherwise the Bank of England governor has

Engaging LGBT+ Allies

It was a real privilege to be part of the panel at our Engaging LGBT+ Allies event, hosted by Barclays on 23 January. Alongside Tamoor Ali (BP) and Yera Hagopian (Barclays) and moderated by James Allan (Barclays), we talked about why we are all passionate members of either the LGBT+ community or its allies. Points of discussion included tips on becoming  effective allies, as well as a debate on what level of ‘banter’ can, or should be, tolerated. Hannah Bernard (Barclays) opened the evening with a memorable quote by Out & Equal Executive Director Selisse Berry: “I believe that no

Cash management experts in the making

I attended my very first Certificate in International Cash Management (CertCM) residential course for two days in January, and loved every minute of it! The tuition from Michèle Allman-Ward was excellent, as expected, considering Michèle’s extensive experience in the financial markets as well as in training. Michèle quickly built a rapport with the students, who seemed a great group. A mix of corporate, financial institution and consultancy backgrounds, the course presented a great opportunity to network and build relationships which will hold for the future. Michèle not only helped the students in terms of technical content, but focused also on

ACT Annual Conference: a speaker Q&A with Rasmus Camborda Meilvang

We can’t believe the ACT Annual Conference is almost here…and we’re excited to share with you news on new content and new formats! Preparations for the event are now in full swing and we will soon be ready to share the event brochure with the treasury community. This year’s theme – STRONGER INFLUENCE, SMARTER INNOVATION, links to how treasurers are increasingly expected to plan for global instability in their organisations, make sense of technological innovation and take a strategic lead in navigating their business through risky disruption. We had a chance to catch up with one of this year’s speakers,

1 month to go: Kenya’s biggest ACT event YET!

Sameer Africa, Transcentury, Gulf Energy, British American Tobacco, East African Breweries, Citi and Airtel Kenya… are some of the companies speaking at the region’s second ACT East Africa Treasury Forum on 7 February in Kenya. If you are a corporate treasurer or finance professional, can you afford to miss out on your free place? As the treasury community grows in East Africa, here are FOUR reasons to book your place: 1. A programme by treasurers – for treasurers! As the only Royal Chartered body for treasurers, we speak directly to your treasury peers and colleagues to ask what they want


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