Implementing IFRS in the banking system
The use of IFRS in the banking system improves transparency and comparability of accounts for investors and other stakeholders, and consequently can have a positive impact through improving access to capital and funding. Also, greater transparency and comparability of reporting is the way to go in the aftermath of the crisis. The UK is strongly of the view that Europe should use IFRS as published by the International Accounting Standards Board. As part of the overall response to the financial crisis, there has of course been a tightening of prudential rules for banks by the Basel Committee on Banking Supervision. The most important element is the package known as 'Basel III'. This package significantly increases minimum levels of capital which regulators will require banks to hold, and also - for the first time - introduces an internationally agreed approach to the quantitative regulation of bank liquidity. The need for clearer presentation of risk information in bank reporting and the need for better and more regular dialogue between auditors and bank supervisors, to enable both parties to perform their duties more effectively and efficiently.
Volume (Year): XVIII (2012)
Issue (Month): (May)
|Contact details of provider:|| Postal: |
Phone: 0256-202931 int. 115
Web page: http://fse.tibiscus.ro/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:tdt:annals:v:xviii:y:2012:p:446-450. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Daniel Kysilka)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.