IFRS 9 and regulatory reporting enhancements are in essence born from the same goal, but in most cases accounting and reporting standards are being overhauled separately.
Similarly, many institutions are developing separate approaches, and even pursuing separate technological initiatives, to achieve compliance with revised reporting and accounting standards.
Yet IFRS 9 is set to produce a chain reaction that will result in even more regulatory reporting changes.
In this paper we will argue that IFRS 9 and the changes to regulatory reporting need to be viewed holistically. Using concrete examples from reporting forms around the region, we will demonstrate how IFRS 9 is set to reshape the reporting process, requiring more complex and detailed data points from banks. And we will show that by anticipating and planning for the ‘next wave’ of regulatory change -- i.e. further reporting enhancements driven by IFRS 9 standards -- institutions can ensure they remain at the forefront of the compliance curve.
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