ارزیابی اثربخشی هماهنگ گزارشگری مالی برای بانک ها در بازار نوظهور: مورد بانکو سرفین
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|14056||2011||19 صفحه PDF||سفارش دهید||13995 کلمه|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : Research in Accounting Regulation, Volume 23, Issue 1, April 2011, Pages 1–19
In the last decade there has been a proliferation of financial crises in emerging markets. To some extent, the suddenness and magnitude of some of these crises have been blamed on poor financial reporting standards for bank loan losses. As a result, prior to providing countries with “financial bailout” funds, international investors and international financial organizations have increasingly required that countries harmonize their bank financial reporting standards with international financial reporting standards. Given this trend, this case requires students to assess the effectiveness of efforts to harmonize loan financial reporting (with International Financial Reporting Standards) for Mexican banks during (and after) the country’s financial crisis of the late 1990s. Students are required to assess the extent to which both pre-crisis standards as well as new, post-crisis standards complied with international financial reporting standards. They are also required to assess the impact of the new standards on the reporting practices for loans of one particularly troubled financial institution. Through the examination of this institution’s accounting practices for loans, students obtain a familiarity of the shortcomings of emerging markets’ banks’ loan financial reporting as well as the factors which influence the adoption of international financial reporting standards by emerging market banks.
You are employed as a financial analyst by a small financial services company which is considering establishing an emerging markets mutual fund. As part of the effort to investigate this possibility, the firm is performing an on-going study of how recent devaluations and financial crises in emerging market economies have affected those countries’ banks. The financial services company is aware that international investors and international financial authorities have stated that inadequate and insufficient information regarding banks’ loan loss provisions and reserves contributed to the onset and magnitude of several of these crises (e.g. Rahman, 1998 and Walter, 2008). In response to those pressures, many of these nations have undertaken steps to harmonize their bank financial reporting with international financial reporting standards (IFRS).5 Given this relation between poor financial reporting and financial crisis, the financial services firm has decided to assign a research team to study the evolution of Mexican bank financial reporting both before and after that country’s financial crisis of the late 1990s. The purpose of the evaluation is to assess the effectiveness of Mexico’s post-crisis efforts to harmonize Mexican bank financial reporting standards with International Financial Reporting Standards (IFRS). The team has been asked to study the financial reporting principles that Mexican banks used before and after the crisis and assess whether the changes in those principles resulted in more reliable and relevant financial reporting. The report is to consist of three sections. The first section is to describe the political and economic context and factors which led to the 1994 peso devaluation and subsequent crisis. The second part is to assess the effectiveness of the country’s post-devaluation reforms to the financial system, including, how financial “bailout” funds were used, the effectiveness of the country’s efforts to restructure the banking system, and the effectiveness of the country’s efforts to harmonize Mexican bank financial reporting standards with International Financial Reporting Standards (IFRS). The final part of the report is to examine the effectiveness of these reforms on specific Mexican banks. As a financial reporting expert on the research team, you have been asked to write the portion (of the final part) of the report which examines the financial reporting of Grupo Financiero Serfin (GFSerfin), one of the country’s largest and most troubled banks. In order to obtain a background for your study of GFSerfin, you have obtained excerpts from the first two sections of the report. Excerpts from these parts of the report are provided below.