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| Tekijä: | Andre, P. (et al.) |
| Otsikko: | Fair value accounting and the banking crisis in 2008: Shooting the messenger |
| Lehti: | Accounting in Europe
2009 : VOL. 6:1-2, p. 3-24 |
| Asiasana: | accounting international accounting standards banking crises |
| Kieli: | eng |
| Tiivistelmä: | This paper analyses the effects of the financial crisis on the international standard-setter in 2008 with the attempts made to shoot the messenger, that is, to blame IAS 39 for creating the crisis for reporting unrealized losses, rather than the cause being bankers' bad investment decisions. Provided is a brief analysis of IAS 39 and fair value accounting for financial instruments and set out the relationship with the Basel II banking regulatory regime. Particularly, analyzed is the impact of the G20 requirements and the blunt intervention of the European Commission leading to IAS39 amendments. |
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