KPMG’s ISG recently updated Guide to Annual Financial Statements: IFRS 9 – Illustrative Disclosures for Banks in PDF format to help banks prepare financial statements under IFRS. The Guide was updated to reflect early application of IFRS 9, Financial Instruments, which is effective for entities that apply IFRS for annual periods beginning on or after January 1, 2018. The Guide illustrates one possible format for financial statements based on a fictitious banking group that applies IFRS, and includes example disclosures for the early adoption of IFRS 9 and consequential amendments to other standards that are required to be adopted at the same time.
With the exception of IFRS 9, the Guide reflects IFRS that were issued as of December 15, 2015 and that are required to be applied by an entity that applies IFRS and that has an annual period beginning on January 1, 2015. The Guide does not illustrate early adoption of other IFRS that are effective for an annual period beginning after January 1, 2015.