Before revision:  Moreover, the approach can be efficiently applied for data consisting of continuous (undiscretized)PDs . In the IFRS9 context, the approach offers an additional merit of an easy way to account for the macroeconomic adjustments, which are required by the IFRS 9 accounting standard.
After revision:  Moreover, the approach can be efficiently applied for data consisting of continuous (undiscretized)PDs . In the IFRS9 context, the approach offers an additional merit : it can easily account for the macroeconomic adjustments, which are required by the IFRS 9 accounting standard.