EU financial institutions are concerned about IFRS 9 implementation

10/26/2011 | Global Financial Strategy

European banks and insurers said it is premature to set a date for introducing new accounting standards for financial instruments, known as International Financial Reporting Standards 9, before the rules are finalised. The International Accounting Standards Board wants to defer IFRS 9 by two years, but the industry wants more time after the standards are complete to adopt the changes.

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