This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Deloitte publishes fifth annual global IFRS banking survey

  • Document (mid gray) Image

18 May 2015

Deloitte has issued its 'Fifth Global IFRS Banking Survey — Finding your way'. The report captures the current views of 59 major banking groups—including 12 of the 18 global systemically important financial institutions (G-SIFIs)—on recent accounting and regulatory changes. With IFRS 9 published and the FASB's CECL project expected to come to a conclusion soon, this study focuses on how banks are approaching the implementation of the anticipated IFRS 9/FASB CECL model requirements in their organisations.

It summarises key findings such as:

  • Total anticipated implementation budgets have doubled in the year since our previous survey.
  • 76% of banks surveyed expect bank accounts to be more useful for regulators under the new rules.
  • A majority of respondents expect to use one or more of the operational simplifications available, despite discouragement from the Basel Committee on Banking Supervision (BCBS).
  • 85% of banks surveyed anticipate their expected credit loss provisions to exceed those calculated under Basel rules, mostly driven by the provision of lifetime expected losses under "stage II".
  • More than half of respondents indicated that they do not have enough technical resources to deliver their IFRS 9/FASB CECL project and a quarter of these further doubt that there will be sufficient skills available in the market to cover any shortfall.

Click for previous surveys:

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.