Scenario 2 : IFRS 9 has replaced the 'incurred loss method for recognition and measurement of Loan loss given wide IAS 39 Financial Instruments. The new approach used by IFRS 9 is known as Three Bucket Approach. Task 2 a. Give an appropriate definition of Loan Loss Provision. 2 mark b. Discuss in detail the prevalent models of Loan Loss Provisioning and calculation of expected loss for an individual using appropriate example. 3 marks