The Accounting Statements of Global Financial Institutions and the Recent Crisis

This ACCA paper looks at major issues associated with accounting policies and standards which affected the banking sector in the run-up to the financial crisis.


More particularly, it describes some of the unfortunate consequences of the interaction between financial reporting, capital requirements, risk management procedures, bank business models and remuneration. These include challenges associated with fair value accounting, pro-cyclicality, and comparability of, and precision in, numbers in financial reports.



  • Broad issues in applying fair value to financial institutions
  • Determining financial institution exposure to the new credit markets
  • Senior executive remuneration
  • Topics for future research

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