INTERNATIONAL FINANCIAL REPORTING STANDARDS: PRUDENTIAL AUTHORITY CALLS FOR INPUT ON SUPPLEMENTARY REGULATORY PROPOSALS

INTERNATIONAL FINANCIAL REPORTING STANDARDS: PRUDENTIAL AUTHORITY CALLS FOR INPUT ON SUPPLEMENTARY REGULATORY PROPOSALS

• 23 February 2023
• Financial Sector
• SA Legal Academy

The Prudential Authority has published a draft directive on the content and frequency of supplementary information to be submitted by banks in keeping with the requirements of International Financial Reporting Standard 9: Financial Instruments (IFRS 9). This is noting that IFRS 9 introduced ‘significant changes to the classification of financial instruments and fundamentally changed the way in which impairments on financial instruments are calculated’. Stakeholders have until 17 March to comment.

• draft directive
• proposed format for submitting supplementary information
• IFRS 9

Published by SA Legal Academy Policy Watch

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