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ARTICLE · 07 APRIL 2017

IFRS 9 Disclosures: Not Quite Yet…

Deloitte
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The majority of large European banks have now released their 2016 Annual Financial Statements which included certain disclosures around IFRS 9 implementation.

European UnionFinance and Banking
Mark Rhys
Mark Rhys
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The majority of large European banks have now released their 2016 Annual Financial Statements which included certain disclosures around IFRS 9 implementation.

The European Securities and Markets Authority (ESMA) has previously issued a public statement outlining its expectations of preparers of financial statements in the lead-up to the implementation of IFRS 9.

ESMA's expectations focus on the need for transparency regarding the impact to users of financial statements when implementing IFRS 9. ESMA expects the level of detail of disclosure from banks to increase in the 2017 calendar year with the level of disclosure being dependent upon the significance of the impact to the financial statements:

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