 Fair value accounting in banking - issues in convergence to IFRSVighneswara Swamy and Vijayalakshmi African Journal of Accounting, Auditing and Finance, 2012, vol. 1, issue 3, 270-280 Abstract: This paper intends to analyse and elucidate the impact of fair value accounting on the banking industry in general and Indian banking in particular in the light of the move towards convergence to international financial reporting standards across the globe. In the light of criticism against fair value accounting for amplifying the subprime crisis and for causing a financial meltdown, the article has analysed the nature and impact of fair value accounting in view of the recent announcement of the Indian version of IFRS i.e., Ind AS by the regulators in India and its impact in relation to the contentious issues like; systemic risk, contagion and its impact on investors. Further, the article highlights the areas in which Indian banking industry is required to focus before and after the implementation of fair value accounting and their consequences on the financial statements of the bank. Keywords: IFRS; fair value accounting; banking; IFRS convergence; financial reporting; auditing; investment; capital; India; International Financial Reporting Standards; systemic risk; contagion; financial statements. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ajaafi:v:1:y:2012:i:3:p:270-280 Access Statistics for this article More articles in African Journal of Accounting, Auditing and Finance from Inderscience Enterprises Ltd |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.