Discussion of ‘Moving toward the expected credit loss model under IFRS 9: Capital Transitional Arrangement and bank systematic risk'

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Disclosure statement

No potential conflict of interest was reported by the author(s).

Notes

1 Although the European Commission recently introduced reference to the ‘public interest’ in relation to the endorsement criteria for accounting standards, and it is a requirement for endorsement that they should not endanger financial stability, which has provoked a lively debate on this issue (see for example IFRS Foundation 2015, Hossfeld et al. 2020, Di Fabio 2020, Alexander and Fassielo 2020).

2 Restatements just happen under extraordinary circumstances and are caused in general by errors (with or without purpose).

Additional information

Funding

This work was supported by Spanish Ministry of Science Innovation and Universities PID 2019-111143GB-C33 and PID 2020-117792RA-100.