Chair – Dirk Jäger (Association of German Banks)
Secretariat – Francesco Saravia (European Banking Federation)
The accounting WG provides a forum for experts and senior accountants from member associations and internationally active banking groups appointed by members, enabling to discuss the development of International Accounting Standards and to share best practices.
The primary focus of the Working Group is the agenda of the International Accounting Standards Board as it seeks to develop one global set of accounting standards. The interaction of these standards with prudential regulatory requirements is also of utmost importance and, as such, the Working Group maintains a dialogue with the Basel Committee’s Accounting Task Force.
The Accounting Working Group continues to exchange views with the audit community on implementation of Phases II of the IFRS 9 project and the FASB impairment mode with the objective to gain a common understanding of the expected loss accounting. They also engage, with the Prudential WG, with the Basel Committee on the review of the prudential framework for expected losses. Last but not least they participate in the review of Pillar 3 risk disclosures and to discuss the interaction of this with the implementation of the EDTF recommendations.