South Africa

Details

  • Service: Audit
  • Industry: Financial Services
  • Type: Business and industry issue
  • Date: 2014/07/16

‘The Bank Statement’ IFRS Newsletter: Banking - Issue 14, Q2 2014 

Q2 2014 issue of our quarterly banking newsletter in which we provide updates on IFRS developments that directly impact banks and consider the potential accounting implications of regulatory requirements.
The Bank Statement
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Highlights:

 

  • The IASB has issued a discussion paper on a new approach for macro hedging and the new standard on revenue recognition.
  • The new general hedging model under IFRS 9. We discuss new possibilities, challenges and judgments from a practitioner’s perspective.
  • Section on benchmarks: We have looked at the financial statements issued by 10 banks reporting under IFRS to compare their disclosure on CVA and DVA.
  • Banks are issuing contingent convertible capital instruments (CoCos) to improve their capital ratios. We discuss some accounting implications from the perspective of the issuer.
 

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Contact

Contact
Trevor Hoole
Head of Markets: Financial Services
Tel: +27 (0)11 647 7276
trevor.hoole@kpmg.co.za