Third Global IFRS Banking Survey — Still far from land?
Deloitte has issued its ‘Third Global IFRS Banking Survey – Still far from land?’. The survey highlights the views of 70 of the world’s major banking groups and global systemically important financial institutions (G-SIFIs) on accounting change.
Key findings are:
- Whilst there is still significant support for the convergence process amongst banks, the majority surveyed consider the IASB and FASB are no longer on track to achieve this;
- Banks are putting their implementation efforts on standby as the process continues to be subject to delay;
- There is uncertainty about the ultimate outcome of financial instruments accounting change with an increase in the number of banks considering that the new requirements cannot be implemented in a way that will increase comparability between banks internationally; and
- The capital and pricing impacts of changes such as impairment, debt valuation adjustments and the treatment of liquidity portfolios will be significant.
Please click to download Third Global IFRS Banking Survey – Still far from land?
Earlier survey in the series aimed at capturing the views of the banking industry:
- The first survey conducted in August 2011: IFRS 9 Impairment Survey 2011 – A changing landscape
- The second survey conducted in March 2012: Global IFRS Banking Survey – Q1 2012 A changing landscape
|To accompany the survey, Deloitte will hold an interactive webcast on 20 February 2013 at 12:00pm GMT. This webcast will provide attendees with an opportunity to further explore the findings of the survey and discuss current developments and their implications. Register here for this webcast.|