UK ASB Welcomes Guidance Paper on Forbearance and Impairment Provision
The Financial Services Authority (FSA) recently published a Guidance Paper "Forbearance and Impairment Provisions — Mortgages". The UK Accounting Standards Board (ASB) of the Financial Reporting Council (FRC) has noted that it welcomes the release of this paper, since the ASB believes it is "a contribution towards the continued development of better financial reporting in the UK".
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