United States

Q4 2015 Issue of The Bank Statement

Feb 08, 2016
From the Financial Reporting Network and the IFRS Institute

KPMG’s ISG recently published the Q4 2015 issue of The Bank Statement to update readers about IFRS developments and accounting issues that affect the banking sector, and to discuss the potential implications of regulatory developments. The issue highlights implementation matters related to IFRS 9, Financial Instruments, including (1) implementation issues discussed at the last scheduled meeting of the IFRS Transition Resource Group for Impairment of Financial Instruments and (2) financial statement preparers’ experiences in implementing the classification and measurement portion of the standard, including applying the solely payments of principal and interest criterion and coordinating interdependent implementation activities with the impairment portion of the standard. The issue also discusses the revised disclosure requirements under Pillar 3 of the Basel Framework and the increasing focus of regulators on the comparability of risk disclosures among Pillar 3, financial statements, and other public disclosures. Finally, the issue updates readers about other IFRS 9 themes and IASB projects that affect the banking sector.

Read KPMG ISG's Newsletter – The Bank Statement