Tag Archives: IFRS

EBA final guidelines on disclosure requirements of IFRS 9 transitional arrangements

The European Banking Authority (EBA) has published its final guidelines on disclosure requirements of International Financial Reporting Standard 9 (IFRS 9) or analogous expected credit losses (ECLs) transitional arrangements. The guidelines apply to institutions referred to in paragraph 1 of … Continue reading

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PRA Dear CFO letter – Transition disclosures for IFRS 9 ‘Financial Instruments’

The PRA has published a Dear CFO letter setting out its expectations as to the minimum transition disclosures for International Financial Reporting Standard 9’s expected credit loss accounting (ECL) requirements. The Dear CFO letter is addressed to the larger UK-headquartered … Continue reading

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Corporate Tax Professionals Support SEC Staff Plan for IFRS Incorporation into US Financial Reporting

In-house company accountants and lawyers responsible for implementing the accounting rules for income taxes that form a part of the company's financial statements support the SEC staff's plan to incorporate IFRS into the US financial reporting system. In a letter … Continue reading

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UK Regulators Emphasize Continued Relevance of True and Fair Principle under GAAP and IFRS

UK regulators have issued a report emphasizing and reaffirming that the requirement that audited financial statements give a true and fair account of a company's operations remains of fundamental importance under both UK GAAP and IFRS. The Accounting Standards Board … Continue reading

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