Most banks are fully focused on the new financial instruments standard, but have you also thought about the potential implications of the new revenue standard? It is also likely to shape banks’ accounts because of its potential impact on the timing of revenue recognition. Our latest quarterly newsletter discusses both IFRS 9 and IFRS 15, including an analysis of some of the new revenue model’s key impacts for banks
Click here to find the effective dates of the new standards and interpretations
Have you already performed a GAP analysis to identify the potential impact on your Bank’s financial information? Have you already prepared revised pro-forma financial statements?