Permanent Adjustments to FINREP Templates – Also in Accordance with IFRS 9
Even after the changes to the FINREP templates caused by IFRS 9, FINREP remains an ongoing issue since each change in the reporting structure constantly affects another aspect. In addition, the scope of the content analysis and queries on FINREP reporting has so far been rather manageable, but this will change in the future as a result of a shift in focus.
FAS AG Support in the Context of FINREP
FAS AG has successfully carried out various FINREP projects for both IFRS and HGB institutions and has many years of experience in this area. Even after the introduction of FINREP, FAS AG will provide advice on the implementation of open issues arising from regulatory requirements or changes in accounting regulations, reporting structures and processes. In a review, FAS AG checks the derivation from customer and product groups for the FINREP report and ensures that it can be reconciled with other regulatory reports, in particular COREP. In addition, we support the harmonization of deviations between IFRS and FINREP in the requirements.
Where banks prepare IFRS consolidated financial statements in accordance with the German Accounting Directive for Banks (Kreditinstituts-Rechnungslegungsverordnung, RechKrdV), there are also regular challenges in the consistent reconciliation between financial statement disclosures and the FINREP report. Here, too, the experienced consultants at FAS AG provide support ranging from the implementation of semi-automatic reconciliation processes (also for institutions under the Commercial Code) to the design of balance sheet and income statement structures compatible with FINREP.
If you are interested or have any questions, please contact us.