The Impact of IFRS Conversion in the Romanian Banking System

Matei Simona Elena ()
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Matei Simona Elena: Academy of Economic Studies Bucharest

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 1, 1522-1526

Abstract: Globally, the recession has forced an important rethink on the banking industry, with banks having to reconsider the fundamentals of their ways of doing business. This is all the more so, given the high profile bank failures in 2008, and the subsequent negative publicity as governments were forced to intervene to protect the sector from collapse. But, currently, they face a challenging future due to the fact that National Bank of Romania (“NBR”) and the Ministry of Public Finance committed to adopting the legal framework necessary for the implementation of IFRS by Romanian banks starting with the financial year ending 31 December 2012.

Keywords: banking; conversion; IFRSs; loans; provisions. (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Date: 2012
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