The Association of Chartered Certified Accountants (ACCA) has - TopicsExpress



          

The Association of Chartered Certified Accountants (ACCA) has issued a warning to consumers looking for mortgages that changes to an accounting rule (IFRS 9) will penalise banks for offering overdraft and credit lines even when they are unused by the customer. The knock on effect of this is that banks will have to enforce larger bad debt provisions against long term loans like mortgages, ACCA says. The new standard, IFRS 9 Financial instruments, will require a life time expected loan loss model to be used rather than the current standard which uses an
Posted on: Fri, 08 Aug 2014 03:11:25 +0000

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