Answer to Question #161060 in Economics for Val

Question

List the regulatory forces that influence financial reporting

Answer 1

The main thing in the process of preparing reports is an integrated approach to its organization, the use of an optimal technological solution that ensures compliance with the requirements for the quality and reliability of reporting indicators.

 

Banking regulatory reporting is a complex process. The number of forms for this reporting is quite large. In addition, in recent years there have been significant changes in the composition of reporting forms, in the approaches used to determine reporting indicators, and in the calculation of mandatory standards. Requirements for the depth of information disclosure have increased.

The significant volume of reporting forms, the risk-orientation of reporting, the significance of the made and planned changes in the field of banking regulation and supervision, in the methods of assessing assets and liabilities - all these factors determine the high priority of the task of organizing the process of preparing regulatory banking reporting.

There is no single model for organizing this process. At the same time, the main tasks, as well as the types of problems to be solved in the process of preparing reports for banks, are the same and can be presented in the following classification: methodological, organizational, technological.