As markets continue to recover from the financial crisis, companies are shifting their focus back to the customer. To rebuild consumer trust in financial services and capitalize on arising opportunities, it is imperative that customer centricity is at the core of new and developing strategies.
Following the many challenges the financial services industry has faced over recent years, there appears to be a decidedly more optimistic feel emerging. Financial institutions should now be considering how fundamental strategic priorities should be pursued in the new, post-crisis environment.
As the financial services industry moves into recovery, it is still facing many challenges and opportunities resulting from the economic crisis. Clarity on what the true picture will be is important to understanding how the industry will move forward.
There is no doubt that the experience of the last two years will cast a shadow on financial services as it endeavours to return to level flight. The challenges now being faced are familiar to many, and highlight the need to focus on the core strategic business.
The purpose of this publication is to assist you in preparing financial statements in accordance with International Financial Reporting Standards (IFRSs). This edition of the illustrative financial statements will be updated to reflect the requirements to be applied by an entity with an annual period beginning on or after 1 January 2009.
