Banking & Capital Markets

Accounting for change: Transparency in the midst of turmoil

The turmoil in the credit markets over the last year has raised many questions as to the effectiveness of the current accounting and disclosure frameworks. In our second Banking survey, we have investigated the extent to which the current model has delivered consistency and transparency in financial reporting in the banking industry.

This survey reviewed over 20 banks’ financial statements around fair value, structured finance and risk management, analysing how well the current accounting and disclosure guidance stood up to the challenges of the recent market conditions. The survey also suggests how banks could improve certain disclosures in order to increase the level of transparency and consistency in their financial reporting.


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