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ICFR Breakfast Briefing on Enhancing the Transparency of Bank Fair Value Reporting

09 Nov 2011

London, UK

Event Output    

 Click here to download the paper and the presentation from that event.


Overview   

The ICFR held a breakfast briefing on 9 November with Professor Paul Klumpes from EDHEC Business School. Following the financial crisis, the application of fair value accounting to banks’ financial reporting has received considerable attention. Professor Klumpes suggested in his recent paper however that an important aspect of fair value accounting had been neglected through the new IFRS standard (IFRS 9). He made a presentation of his findings; IFRS 9 brings simplification, however, the new standard reinforces the place of fair value measurement in banks’ financial reporting and still leaves obstacles to understanding the impact of fair value movements on banks’ reported income. 
 

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