Banks – 2023 illustrative disclosures

Our Guides to financial statements help you to prepare and present financial statements in accordance with IFRS Accounting Standards.

Our Illustrative disclosures for banks illustrate one possible format for financial statements of a fictitious banking group that is involved in a range of general banking activities and is not a first-time adopter of IFRS Accounting Standards. 

The 2023 edition reflects IFRS Accounting Standards in issue at 30 November 2023 that apply for annual periods beginning on 1 January 2023.
It includes an illustration of new disclosures relating to:

• Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12);
• International Tax Reform – Pillar Two Model Rules (Amendments to IAS 12); and
• Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2).
  

Financial reporting in uncertain times

Many banks are likely to be facing challenges in these uncertain times. External events such as geopolitical events, natural disasters, climate effects or inflationary pressures are just a few of the major issues driving global economic uncertainty today.

Preparers should carefully evaluate and consider the impact of external events on their 2023 financial reporting and provide relevant, entity-specific disclosures.

Our Financial reporting in uncertain times resource centre includes articles, blogs and podcasts to help you better understand the accounting and disclosure implications for your bank.

Climate change and financial reporting

All banks are facing climate-related risks and opportunities and are making strategic decisions in response – including around their transition to a low-carbon economy.

Our Climate change financial reporting resource centre provides FAQs to help banks identify the potential financial statement impacts for their business.

Also, the International Sustainability Standards Board (ISSB) has published IFRS Sustainability Disclosure Standards. For more on this and related developments, see our Sustainability reporting web page.

You can also follow 'KPMG IFRS' on LinkedIn and check out IFRS Today for the latest content and topical discussion on IFRS Accounting Standards.