Fair value accounting: an open and shut case
For the first time this year many financial institutions will have included derivatives at their fair value on balance sheets and, in many cases, this will have been a major headache.
For the first time this year many financial institutions will have included derivatives at their fair value on balance sheets and, in many cases, this will have been a major headache.
Whilst COREP has been dominating the headlines in terms of changes in the regulatory reporting environment, new hedge accounting standards are being introduced for banking firms.
At the IFRS Conference held in Zurich on 5th July 2011, IFRS staff member Sue Lloyd announced their recommendation to the IFRS board to delay IAS 9 adoption until 2015.This is yet to be formally confirmed by the IFRS Board.