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Prudential Application of IFRS 9: (Un)Fair Reporting in COVID‐19 Crisis for Banks Worldwide?!
Australian Accounting Review ( IF 2.680 ) Pub Date : 2020-07-20 , DOI: 10.1111/auar.12316
Aziz el Barnoussi 1 , Bryan Howieson 2 , Ferdy Beest 1
Affiliation  

IFRS 9 and ASC 326 were developed after the 2008–2009 financial crisis, and both accounting standards include an expected loss model as a means of providing for credit losses. As a result of the COVID‐19 worldwide pandemic, however, banks face considerable uncertainty about the potential scale of the bad debts for which they will need to provide. Banks need to reassess their loan assets, by updating their risk models with expectations about potential default rates and future macro‐economic and financial developments. However, we see several interventions worldwide. The European Securities and Markets Authority addresses a position paper on the prudential application of IFRS 9. The Coronavirus Aid, Relief, and Economic Security Act in the US has given banks an optional deferral of implementation of the CECL model until 31 December 2020. This paper addresses the challenges banks face when applying the expected losses model during the current crisis. More importantly, it discusses the impact of supervisor and regulators’ intervention on future financial reporting comparability, transparency and whether there is a level playing field.

中文翻译:

IFRS 9的审慎应用:COVID-19危机对全球银行的公平报告?

IFRS 9和ASC 326是在2008-2009年金融危机之后开发的,两种会计准则都包括预期损失模型,作为提供信贷损失的一种方法。但是,由于COVID-19全球大流行,银行在需要为其提供呆账的潜在规模方面面临相当大的不确定性。银行需要通过更新其风险模型,以对潜在违约率以及未来的宏观经济和金融发展的预期,来重新评估其贷款资产。但是,我们在全球范围内看到了几种干预措施。欧洲证券和市场管理局发表关于IFRS 9审慎应用的立场文件。《冠状病毒援助,救济和经济安全法》美国的银行已选择性地将CECL模型的实施推迟到2020年12月31日。本文解决了银行在当前危机中应用预期损失模型时面临的挑战。更重要的是,它讨论了监管者的干预对未来财务报告可比性,透明度和是否存在公平竞争环境的影响。
更新日期:2020-07-20
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