South Africa


  • Industry: Financial Services
  • Type: Business and industry issue
  • Date: 2013/02/04

‘The Bank Statement’ KPMG’s Global IFRS Banking Newsletter – Issue 8 

his issue of KPMG’s IFRS banking newsletter provides updates on IFRS development that directly impact banks and considers the potential accounting implications of regulatory requirements.

The Bank Statement
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Highlights in this edition include:


  • The International Accounting Standards Board (IASB) decided on the final features of the impairment model to be re-exposed in early 2013. The criteria for the recognition of lifetime expected losses have been simplified to alleviate operational burden.


  • Extensive and sometimes overlapping disclosures may contribute to a perception that financial reporting is a compliance exercise rather than a means of channelling key messages to stakeholders. The Enhanced Disclosure Task Force (EDTF) recommendations on enhancing risk disclosures may help banks to improve investor confidence.


  • The introduction of Basel 3 leverage ratio may in certain cases result in disposals of financial assets. We consider potential accounting implications of the new regulatory requirements on the classification of financial assets.



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Trevor Hoole
Clients & Sectors Head: Financial Services
Tel: +27 (0)11 647 7276