As different standards cross paths in finance and risk, differing regulations also lead to divergent regulatory reporting requirements.

As always, the International Accounting Standards Board (IASB) is keeping us all busy, and has recently announced a focus on the longer term and, with IFRS 9 Financial Instruments, said goodbye to the available for sale (AFS) category.

The translation of the Basel Committee on Banking Supervision (BCBS) rules, meanwhile, has made its way into local legislation and the European Single Electronic Format (ESEF) is now in play, based on the IFRS XBRL taxonomy.