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Banks – Illustrative disclosures

Banks – Illustrative disclosures Banks – Illustrative disclosures

Your essential guides to disclosures for banks

Our Guides to financial statements help you to prepare financial statements in accordance with IFRS. They illustrate one possible format for financial statements prepared under IFRS.

Our illustrative disclosures for banks are based on a fictitious banking group involved in a range of general banking activities, which is not a first-time adopter of IFRS Standards. The 2019 edition (PDF 2.8 MB) includes the impact of applying IFRS 16 Leases for the first time.

It reflects standards in issue at 30 November 2019 that are required to be applied by an entity with an annual period beginning on 1 January 2019, plus early adoption of the amendments related to the market-wide reform of interbank offered rates (IBOR reform)1

Explaining the changes

As you apply IFRSs 9 and 15 in your 2018 annual financial statements, embrace the opportunity to think through how best to explain the changes and their effects.

The quality and clarity of explanations of changes in accounting policies and their impacts are key. Investors and other stakeholders will be keenly interested in disclosures of key judgements and estimates.

Find out more

For KPMG's insights on transitioning to the new standard, visit our IFRS for banks hot topics page.

  1. Amendments to IFRS 9 Financial Instruments, IAS®39 Financial Instruments: Recognition and Measurement and IFRS 7 Financial Instruments: Disclosures.