This programme aims to provide a comprehensive understanding of foreign currency risk and the thought process used to assess and mitigate the risk. The course will focus exclusively on foreign currency hedges explaining the hedging strategies, techniques and instruments used in practice. Illustrative examples will be explained along with relevant accounting standards (IFRS 9/SFRS(I) 109 and IAS/SFRS(I) 21) and efficient approaches for designating hedging relationships, documenting hedges, and testing and measuring hedge effectiveness.
Learning Outcomes:
- Understand foreign currency risk and its impact on global business.
- Evaluate and apply hedging strategies using appropriate techniques and instruments.
- Interpret and apply accounting standards (IFRS 9, SFRS(I) 109, IAS/SFRS(I) 21) for currency risk management.
- Design, document, and assess hedge effectiveness using industry best practices.
Programme Outline
Fundamentals of Foreign Currency Exposures
- Assessing foreign currency risk exposure
- Risk vs Uncertainty
- Should you hedge foreign currency risk?
- Asset class and foreign currency correlation
- What is risk appetite?
Foreign Currency Hedges Under IFRS/SFRS(I)
- What can be used as a hedging instrument?
- Forwards/Futures/Swaps
- Options
- Non-derivative instruments
- Diversification of counterparty risk
- Relevance of IAS/SFRS(I) 21
- What is a natural foreign currency hedge?
- Group and Company level hedges
Types of Foreign Currency Hedges
- What exposures can be hedged?
- Fair value hedge of recognised or unrecognised exposure
- Cash flow hedge:
- Recognised exposure
- Forecasted transaction
- Net Investment
- What about non-financial exposures?
Hedge Designation, Documentation and Effectiveness Testing
- Fair Value Hedge or Cash Flow Hedge?
- What should be designated as the hedging relationship?
- Hedge effectiveness testing
Measuring hedge ineffectiveness
Training Methodology*
Lecture style with Exercises and Illustrated Examples
Closing Date for Registration*
20 March 2026
Intended For
An Intermediate Level programme intended for Chief Financial Officers, Financial Controllers, Treasurers, Finance Managers, Auditors, Accountants and those involved in managing foreign currency risk. Users of financial information will also find the programme beneficial.
Competency Mapping
Category 1 = 3.00 Hours
Others = 4.00 Hours
Schedule & Fees
Date & Time
27 Mar 2026 (9:00 AM - 5:00 PM)
Fee (inclusive of GST)
SGD pricing -
For Members:
$ 406.57
For Non-Members:
$ 485.05
Programme Facilitator(s)
Thomas Egan
Venue
60 Cecil Street
ISCA House
Singapore 049709
Testimonial
Funding
No funding Available!
Programme Facilitator(s)
Thomas Egan
Tom is a member of ISCA, as well as ACCA, CPA Australia and is a licensed US CPA. He had served on a number of committees related to accounting standards, financial reporting, and XBRL. He has extensive experience related to accounting for financial instruments gained through the past 18 years in technical accounting roles with a Big 4 firm and an international bank and is currently the accounting advisor to the airline industry for implementation of IFRS 9, Financial Instruments, IFRS 15, Revenue and IFRS 16, Leases. He holds a Masters degree in accounting from the University of Wisconsin - Madison and a Postgraduate Diploma in Strategic Finance from the University of Oxford.
This programme aims to provide a comprehensive understanding of foreign currency risk and the thought process used to assess and mitigate the risk. The course will focus exclusively on foreign currency hedges explaining the hedging strategies, techniques and instruments used in practice. Illustrative examples will be explained along with relevant accounting standards (IFRS 9/SFRS(I) 109 and IAS/SFRS(I) 21) and efficient approaches for designating hedging relationships, documenting hedges, and testing and measuring hedge effectiveness.
Learning Outcomes:
- Understand foreign currency risk and its impact on global business.
- Evaluate and apply hedging strategies using appropriate techniques and instruments.
- Interpret and apply accounting standards (IFRS 9, SFRS(I) 109, IAS/SFRS(I) 21) for currency risk management.
- Design, document, and assess hedge effectiveness using industry best practices.
Programme Outline
Fundamentals of Foreign Currency Exposures
- Assessing foreign currency risk exposure
- Risk vs Uncertainty
- Should you hedge foreign currency risk?
- Asset class and foreign currency correlation
- What is risk appetite?
Foreign Currency Hedges Under IFRS/SFRS(I)
- What can be used as a hedging instrument?
- Forwards/Futures/Swaps
- Options
- Non-derivative instruments
- Diversification of counterparty risk
- Relevance of IAS/SFRS(I) 21
- What is a natural foreign currency hedge?
- Group and Company level hedges
Types of Foreign Currency Hedges
- What exposures can be hedged?
- Fair value hedge of recognised or unrecognised exposure
- Cash flow hedge:
- Recognised exposure
- Forecasted transaction
- Net Investment
- What about non-financial exposures?
Hedge Designation, Documentation and Effectiveness Testing
- Fair Value Hedge or Cash Flow Hedge?
- What should be designated as the hedging relationship?
- Hedge effectiveness testing
Measuring hedge ineffectiveness
Training Methodology*
Lecture style with Exercises and Illustrated Examples
Closing Date for Registration*
20 March 2026
Intended For
An Intermediate Level programme intended for Chief Financial Officers, Financial Controllers, Treasurers, Finance Managers, Auditors, Accountants and those involved in managing foreign currency risk. Users of financial information will also find the programme beneficial.
Competency Mapping
Category 1 = 3.00 Hours
Others = 4.00 Hours
Programme Facilitator(s)
Thomas Egan
Tom is a member of ISCA, as well as ACCA, CPA Australia and is a licensed US CPA. He had served on a number of committees related to accounting standards, financial reporting, and XBRL. He has extensive experience related to accounting for financial instruments gained through the past 18 years in technical accounting roles with a Big 4 firm and an international bank and is currently the accounting advisor to the airline industry for implementation of IFRS 9, Financial Instruments, IFRS 15, Revenue and IFRS 16, Leases. He holds a Masters degree in accounting from the University of Wisconsin - Madison and a Postgraduate Diploma in Strategic Finance from the University of Oxford.