As the IASB continues to roll out IFRS standards and sets out plans to consult on dynamic risk management, Jeroen van Doorsselaere, VP at Wolters Kluwer Financial Series says the continuing regulatory onslaught calls for an integrated approach to finance and risk
Regulators are increasingly focused on creating more transparent communication, not just for the public but also for investors. New Basel regulations and revised accounting standards, as readers well know, have been introduced and, for the most part, are now in force.
But have we really learned anything from the many mistakes of the past?
At the end of 2018, at a major industry event, in a room of many hundreds of risk professionals only 27% of the respondents thought we had. To say that this was worrying is an understatement.
But not to fear – we still have plenty of new regulations that will come into force in the coming years.
With IFRS 9 Financial Instruments, IFRS 15 Revenue Recognition and IFRS 16 Leases already in force, many major standards have admittedly passed.
