(a) Explain the terms credit risk, liquidity risk and market risk which are used in international standard...

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(a) Explain the terms "credit risk", "liquidity risk" and "market risk" which are used in international standard IFRS7.

(b) Outline the main disclosures required by IFRS7 in relation to each of these risks.

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International Financial Reporting

ISBN: 9781292293127

7th Edition

Authors: Alan Melville

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Question Posted: Jan 16, 2023 04:24 AM

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(a) Explain the terms credit risk, liquidity risk and market risk which are used in international standard...

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Credit Risk Credit risk is the risk of a counter party default ing on their obligations to pay back a loan or debt It is the risk of a financial loss ...View the full answer

International Financial Reporting

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