The European Banking Authority (EBA) has a strong interest in promoting sound and high quality accounting and disclosure standards for the banking and financial industry, as well as transparent and comparable financial statements that strengthen market discipline.
The EBA also advocates for sound audit practices that contribute to high quality corporate reporting and to useful and understandable auditor reporting. The developments in the area of international accounting and auditing standard setting are, therefore, closely monitored.
The EBA launched a second impact assessment of IFRS 9, which builds on the objectives of the first impact assessment, namely the estimated impact of IFRS 9 on regulatory own funds, the interaction between IFRS 9 and other prudential requirements and the implementation issues relating to IFRS 9.
The sample of banks participating in this exercise is of approximately 50 institutions across the EU and is very similar to the previous one.
In addition, this exercise includes questions focused on specific aspects around the main topics covered in the first impact assessment.
Press release
© EBA
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