IFRS
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Non-Bank Financial Institutions Get One-Year Deferral on IFRS Implementation
Romania's National Committee for Macroprudential Oversight has postponed for one year the obligation for non-bank financial institutions to switch to international financial reporting standards (IFRS) in their accounting.
Accounting
Changes in Romanian accounting rules over the last few years have moved Romanian accounting closer to International Financial Reporting Standards (IFRS), although there are still some signif...
UniCredit Tiriac Bank Cuts RON0.5B Off Provisions After IFRS Introduction
Romanian lender UniCredit Tiriac Bank freed up some 550 million lei (EUR125.7 million) from its provisions by switching to international financial reporting standards (IFRS) from the local s...
Romanian Banks Unlock RON10B Provisions After IFRS Adoption
Romanian lenders have unlocked loan loss provisions worth around 10 billion lei (EUR2.3 billion) following the adoption of the international financial reporting standards in January this yea...
KPMG: Romanian Banks To Face Challenges Beyond IFRS Adoption Date
The challenges faced by Romanian banks in adopting the international accounting laws will not stop with the adoption date on January 1, because the international norms are subject to continu...
Banks About To Take A Day Off To Implement IFRS
Romanian banks are about to start reporting according to the international standards, which will heavily test their IT systems and administrative resources.