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Implementing IFRS in the banking system


  • Gabriela LAZAR


  • Gabriela SANDU

    () (University „Petre Andrei” of Iasi)


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.

Suggested Citation

  • Gabriela LAZAR & Gabriela SANDU, 2012. "Implementing IFRS in the banking system," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 446-450, May.
  • Handle: RePEc:tdt:annals:v:xviii:y:2012:p:446-450

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    More about this item


    IFRS; banking system; bank reporting; comparability of accounts; transparency of reporting;

    JEL classification:

    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty


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