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Restructuring of Troubled Assets: IFRS versus US GAAP

The two standards tackle troubled assets differently; here’s what banks must do

Accounting of asset restructuring or modification of cash flows differs in treatment under different jurisdictions and accounting standards. Banks present in multiple jurisdictions must comply with both and do dual reporting. They will have to deploy a system with robust security, access restrictions, and adequate audit trail capabilities to maintain management reporting and regulatory compliance.

Ashwini Kamat

Senior Consultant, Banking and Financial Services, TCS


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