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The Impact of IFRS Conversion in the Romanian Banking System

Author

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  • Matei Simona Elena

    (Academy of Economic Studies Bucharest)

Abstract

Globally, the recession has forced an important rethink on the banking industry, with banks having to reconsider the fundamentals of their ways of doing business. This is all the more so, given the high profile bank failures in 2008, and the subsequent negative publicity as governments were forced to intervene to protect the sector from collapse. But, currently, they face a challenging future due to the fact that National Bank of Romania (“NBR”) and the Ministry of Public Finance committed to adopting the legal framework necessary for the implementation of IFRS by Romanian banks starting with the financial year ending 31 December 2012.

Suggested Citation

  • Matei Simona Elena, 2012. "The Impact of IFRS Conversion in the Romanian Banking System," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1522-1526, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:12:p:1522-1526
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    File URL: http://stec.univ-ovidius.ro/html/anale/ENG/cuprins%20rezumate/volum2012p1.pdf
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    Citations

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    Cited by:

    1. Anisoara Apetri & Camelia Mihalciuc & Oana Iuliana Mihai, 2015. "The Legal Framework For The Implementation Of Ifrs And Their Implications In The Banking System From Romania," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 279-288.

    More about this item

    Keywords

    banking; conversion; IFRSs; loans; provisions.;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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