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ARTICLE · 22 MAY 2018

Banks: What To Include In Your Interim Financial Statements

KPMG Luxembourg
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IFRS 9 has been in force for several months now. In examining how banks have applied the transitional requirements in their 2017 year-end reports, we found them adept at presenting the impacts of the new standards.

LuxembourgFinance and Banking
Florence Rouault
Florence Rouault
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IFRS 9 has been in force for several months now. In examining how banks have applied the transitional requirements in their 2017 year-end reports, we found them adept at presenting the impacts of the new standards.

We turn now to the next challenge: disclosures required in banks' interim reports.

What to include in interim financial statements

IAS 34 defines what interim reports must disclose: namely, a complete set of financial statements as defined in IAS 1, even if a condensed report is issued. IAS 34 remains unaffected by the new amendments of IFRS 9.

The primary requirements under IAS 34 are stated in paragraphs 15 and 16A, which list the following items to be disclosed:

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