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  • Service: Audit, IFRS
  • Type: Business and industry issue
  • Date: 10/5/2012

IFRS Newsletter: Banking - issue 7, Q3 2012 

The Bank Statement is KPMG’s IFRS Banking Newsletter produced by the International Standards Group and IFRS banking specialists around the KPMG network. It is a quarterly publication that provides updates on IFRS developments directly impacting banks, considers accounting issues affecting the sector, and discusses potential accounting implications of regulatory developments.
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Highlights:
  • FASB decides on an alternative path for its financial asset impairment model, while the IASB indicates that it has taken all the technical decisions for developing an exposure draft for the new impairment model.
  • With the suite of new consolidation standards almost effective, challenges in applying the requirements are coming to the forefront, including how to approach an IFRS 10 implementation project.
  • Both IFRS and regulatory requirements can entail providing information on financial instrument valuation uncertainty. Ensuring consistency when there are overlaps in the information requests is important.

 

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IFRS banking news - Receive newsletters and briefings from KPMG IFRG to update you on accounting and reporting developments in the banking sector. 

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