Bank chief calls for new accounting rules | AccountingWEB

Bank chief calls for new accounting rules

New bank accounting rules are needed to avoid another financial crisis, according to the Bank of England's director of financial stability Andy Haldane.

In a speech last month, published this week, Haldane said the International Financial Reporting Standards (IFRS) system is not a prudent approach and that the existing accounting rules could have distorted expected bank profits and exacerbated the crisis.


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