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  • Service: Audit, IFRS
  • Type: Business and industry issue
  • Date: 1/8/2014

Banks in the spotlight – IFRS 10 one year on 

Many banks outside the EU have now applied the new standard on consolidated financial statements (IFRS 10) to both their interim and annual financial statements – and this newsletter examines the learning points from the first year of implementation.
Meanwhile, the IASB has issued its new general hedge accounting model – part of IFRS 9 Financial Instruments (2013) – which will align hedge accounting more closely with risk management. It has also made substantial progress in its projects on expected credit losses and classification and measurement. And the European Central Bank is set to perform an asset quality review of the eurozone’s most significant 130 banks, which could have a significant impact on some.

IFRS Newsletter: Banking - issue 12, Q4 2013

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This provides updates on IFRS developments that directly impact banks and consider the potential accounting implications of regulatory requirements.

© 2014 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 8 Salisbury Square, London, EC4Y 8BB

 

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