Nedskrivninger af udlån og andre tilgodehavender: En gennemgang af IAS 39 og Bekendtgørelse om finansielle rapporter for kreditinstitutter og fondsmæglerselskaber m.fl. og de tre aktørers rolle

Henrik Bøye Laursen & Dennis Nielsen

Student thesis: Master thesis


The recent financial crisis has had a huge impact on both the national and international financial sector, As a result, several actions have been taken in order to regulate the European banks with the aim of creating a stable sector able to withstand financial distress. In 2012, the Danish FSA (Finanstilsynet) introduced a new regulation, simultaneously with a new Appendix - Annex 10, with detailed guidelines linking the individual impairments and provisions on loans and other receivables. This thesis analyses the consequences that the new regulation, concerning impairment of loans and receivables, has for accounting management and the auditor in respect to The Danish FSA. A description of “Bekendtgørelse af finansielle rapporter for kreditinstitutter og fondsmæglerselskaber m.fl.” and the accounting standard IAS 39, leads to a clarification of whether or not the Danish regulation and Annex 10 differs from IAS 39 and the neutrality principle. Furthermore, the later effective IFRS 9 is described to explain the differences between IAS 39 and IFRS 9, but also to discuss the need to establish specific Danish rules and guidelines for the implementation of IFRS 9. Inspection reports are examined to argue for the increase in supervision by the Danish FSA and the effects it has for the Danish institutes, in order to emphasize the conditions that led to an increased need for impairments of loans and other receivables. Subsequently, a description and analysis of the auditor’s work and practical approach in reviewing the banks’ balancesheets, are completed. Based on the description, the analysis and a discussion of the different positions of the management accountant, the auditor and the danish FSA, we have argued that with a materiality point of view, the Danish regulation does not differ substantially from the accountant standard IAS 39. Nevertheless, certain points are not compatible with IAS 39, and has resulted in severe consequences for the impairment of loand and receivebles, including the impairments charges on agriculture and property. The analysis of an interview with an auditor also revealed that the auditors role has shifted, and he/she does not only report to the company’s owners and stakeholders, but also to the Danish FSA. As a consequence, the auditor now also examines the financial statements in regards to the Danish FSA, as opposed to only the stakeholders. Hence, auditing is based on the auditor’s expectations of possible further investigation of the bank in favor of what might be relevant for other stakeholders.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2015
Number of pages130