Apr 14, 2014
From the IFRS Institute
By KPMG IFRG Limited | April 14, 2014
KPMG's ISG recently published the Q1 2014 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 reports that the IASB expects to issue IFRS 9, Financial Instruments, in the second quarter of this year, effective for annual periods beginning on or after January 1, 2018. IFRS 9 will include limited amendments to the classification and measurement requirements, and the final requirements for impairment. The issue also discusses evolving market practices for including a funding valuation adjustment in the measurement of fair values of uncollateralized derivatives, and the results of a survey of bank disclosure practices related to fair values of loans carried at amortized cost.