| According to a new Deloitte inaugural global banking IFRS 9 impairment survey, leading international banking groups, many of which are headquartered in the Middle East and North Africa, believe that IFRS 9 impairment accounting proposals will improve financial statements, in comparison to those prepared using the current IAS 39 rules.
Many of the 56 institutions that were surveyed in Europe, Asia Pacific, North America and the MENA region revealed that they have laid the framework for meeting the proposed effective date of 2015 for implementing the IFRS 9 impairment accounting proposals. Just over half will have started their enactment by the end of 2011, and nearly 90% will have started by 2012..............................................Full Article: Source
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