- The IASB issued a new general hedge accounting model - part of IFRS 9 Financial Instruments (2013) - which will align hedge accounting more closely with risk management.
- The mandatory effective date for the application of IFRS 9 Financial Instruments will be no earlier than annual periods beginning on or after January 1, 2017.
- Deliberations continue on some of the key aspects of the IASB's proposals for expected credit losses and classification and measurement to form part of the future financial instruments standard.
- Non-EU banks have already applied IFRS 10 Consolidated Financial Statements, which is effective for annual periods beginning on or after 1 January 2013. We discuss some of the learning points from the first year of implementation.
- The European Central Bank is to perform an asset quality review of the eurozone's most significant 130 banks. We consider some possible accounting implications.
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