The relationship between the financial reporting standard IFRS-13 and banking risks and their impact on the performance of economic units

Abstract

 The research aims primarily to demonstrate the impact of applying the Financial Reporting Standard (IFRS-13) to measure fair value in reducing banking risks by addressing the conceptual framework and theoretical foundations of the Financial Reporting Standard (IFRS-13) for measuring fair value and credit risk, and determining the nature of the relationship between them. As well as measuring fair value in accordance with the Financial Reporting Standard (IFRS-13) in order to provide accounting information appropriate to the requirements of the contemporary business environment in a way that helps improve performance. The research reached a set of conclusions, the most important of which was that fair value according to the International Financial Reporting Standard (IFRS-13) can help reduce banking risks by providing the necessary accounting information that would help in reviewing the credit risk management framework in the bank before Approved by the Board of Directors, implementing the appropriate strategy for managing credit risks, in addition to developing business policies and procedures aimed at reducing these risks to the minimum possible extent .