IFRS 9: Transition impact on banks in the Gulf Cooperation Council
The biggest accounting development for banks this year has been the implementation of IFRS 9 Financial Instruments, which was expected to have a significant impact on the balance sheet, regulatory ratios and capital along with accounting systems and processes. Now that IFRS 9 is effective, banks’ implementation projects have taken final shape and reflect their thinking and judgement in application of this new standard. We are delighted to present our publication IFRS 9: Transition impact on banks in the Gulf Cooperation Council (GCC), which analyses the financial impact on initial adoption of IFRS 9 by listed commercial banks in the GCC countries.
To learn more, read the full publication.
© 2020 KPMG Fakhro, a Bahrain partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss entity. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.