Accounting for the LIBOR transition

One of the many components of the LIBOR transition is the assessment of contracts, which could require modification or renewal. If so, the potential impact on financial reporting needs to be considered, explains Marcus Morton.

Marcus Morton is managing director, Valuation Services, at Duff & Phelps, a Kroll Business (www.duffandphelps.com/our-team/marcus-morton). He is a multi-disciplined investment banking expert who has worked at several investment banks, including Goldman Sachs, Nomura, JP Morgan and Barclays.

As 2021 ticks by, we are several months through the final year before LIBOR finally finishes its 40-year run as the ‘go to’ interest rate benchmark.