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Even if the wave of regulation resulting from the 2008 financial crisis is currently subsiding somewhat, the number of new requirements for banks in the area of supervisory law and accounting remains high. In addition to challenges in operational implementation, these often lead to significant strategic implications for existing business models. This applies to new international and national accounting standards (e.g. implementation of IFRS 9, IFRS 15, IFRS 16, BilRuG) as well as to publications of the standard setters in banking supervisory law (e.g. completion of Basel III, creation of a new resolution regime, combating money laundering, amendments to MaRisk, expansion of reporting under COREP and FINREP). There is much to suggest that Accounting and Regulatory will remain a top priority for CFOs and CROs in the coming years.

Challenging implementation in ongoing operations

Difficulties often arise in practice when reconciling the different perspectives of accounting and regulatory (e.g. reporting of financial information, prudent valuation of financial instruments, provisioning for non-performing loans). Often, the implementation of the legal framework can only be effectively solved at the interface of both disciplines. This requires detailed knowledge of the now extremely comprehensive and complex body of regulations as well as knowledge of the interaction of supervisory and commercial law perspectives. This applies to the increasing links between Pillars I to III of supervisory law (capital or liquidity adequacy, supervisory review processes, disclosure), between international and national accounting, and between supervisory and commercial law per se.

Benefit from our expertise and implementation experience

The Accounting & Regulatory Advice team of experts combines expert knowledge and implementation experience. This is the basis on which a practice-oriented realisation of new standards can be successfully implemented in banks. We offer our clients numerous services within the scope of annual audits and consulting projects, as well as the option of outsourcing selected tasks of internal policy departments to KPMG for reasons of efficiency.

Our services include, but are not limited to:

  • Early opinion-forming on new requirements in supervisory and commercial law and their interpretation
  • Deriving both strategic implications and operational fields of action for banks
  • Commentary and expert opinions on specific client questions
  • Accompanying examinations of the German Financial Reporting Enforcement Panel (DPR) as well as European (ECB) or national supervision (BaFin and Bundesbank)
  • Answering critical interpretation questions as a central centre of excellence for accounting and regulatory law
  • Supporting implementation projects with special specialist expertise for special questions in supervisory and commercial law

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