Archives - Accounting and Auditing

• 4 December 2015 International Standards on Auditing (ISA)

  International Standards on Auditing (ISAs) are professional standards that deal with the independent auditor's responsibilities when conducting an audit of financial statements. ISAs contain objectives and requirements together with application and other explanatory material.

  Content Type(s): Compendium Source(s): IAASB Policy Area(s): Institutional and Market Infrastructure Topic(s): Accounting and Auditing

• 16 November 2015 System of National Accounts

  The System of National Accounts (SNA) is the internationally agreed standard set of recommendations on how to compile measures of economic activity in accordance with strict accounting conventions based on economic principles.

  Content Type(s): Compendium Source(s): IMF, OECD, WB Policy Area(s): Macroeconomic Policy and Data Transparency Topic(s): Accounting and Auditing, Central Banking, Transparency and Disclosure

• 31 March 2014 External audits of banks

  This document describes supervisory expectations regarding audit quality and how that relates to the work of the external auditor and of the audit Committee in a bank.

  Content Type(s): Compendium Source(s): BCBS Policy Area(s): Financial Regulation and Supervision Topic(s): Accounting and Auditing

• 17 July 2013 Principles for Financial Benchmarks

  An overarching framework containing guidance and principles for Benchmark-related activities that will address conflicts of interest in the Benchmark-setting process, as well as transparency and openness when considering issues related to transition.

  Content Type(s): Compendium Source(s): IOSCO Policy Area(s): Financial Regulation and Supervision Topic(s): Accounting and Auditing, Governance, Transparency and Disclosure

• 7 May 2013 Principles for the Valuation of Collective Investment Schemes

  This document outlines a set of 11 principles for the valuation of Collective Investment Schemes (CIS) and are intended to be a basis against which both the industry and regulators can assess the quality of regulation and industry practices concerning CIS valuation.

  Content Type(s): Compendium Source(s): IOSCO Policy Area(s): Financial Regulation and Supervision Topic(s): Accounting and Auditing, Market Regulation

• 28 June 2012 The internal audit function in banks

  This revised supervisory guidance for assessing the effectiveness of the internal audit function in banks forms part of the Committee's ongoing efforts to address bank supervisory issues and enhance supervision through guidance that encourages sound practices within banks. It takes into account developments in supervisory practices and in banking organisations and incorporates lessons drawn from the recent financial crisis.

  Content Type(s): Compendium Source(s): BCBS Policy Area(s): Financial Regulation and Supervision Topic(s): Accounting and Auditing, Governance, Prudential Supervision and Oversight

• 1 April 2009 Supervisory guidance for assessing banks' financial instrument fair value practices

  The principles in this document promote strong governance processes around valuations; the use of reliable inputs and diverse information sources; the articulation and communication of valuation uncertainty to internal and external stakeholders; the allocation of sufficient banking and supervisory resources to the valuation process; independent verification and validation processes; consistency in valuation practices for risk management and reporting purposes, where possible; and strong supervisory oversight around bank valuation practices.

  Content Type(s): Compendium Source(s): BCBS Policy Area(s): Financial Regulation and Supervision Topic(s): Accounting and Auditing, Prudential Supervision and Oversight, Risk Management

• 14 June 2006 Supervisory guidance on the use of the fair value option for financial instruments by banks

  This document was issued to provide supervisors with guidance on the prudential supervision of banks' implementation of the fair value option.

  Content Type(s): Compendium Source(s): BCBS Policy Area(s): Financial Regulation and Supervision Topic(s): Accounting and Auditing, Prudential Supervision and Oversight

• 26 April 2005 Compliance and the compliance function in banks

  This document provides basic guidance for banks and sets out banking supervisors' views on compliance in banking organisations.

  Content Type(s): Compendium Source(s): BCBS Policy Area(s): Financial Regulation and Supervision Topic(s): Accounting and Auditing, Governance

• 1 October 2002 Principles for Auditor Oversight

  This is a list of general principles for oversight of audit firms and auditors that audit financial statements of companies whose securities are publicly traded in the capital markets.

  Content Type(s): Compendium Source(s): IOSCO Policy Area(s): Financial Regulation and Supervision Topic(s): Accounting and Auditing