Fifth Global IFRS Banking Survey — Finding your way

Published on: 03 Sep 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:


Related Topics

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.