The central bank decided to move banks with International Standards on disclosure system
The central bank decided to move banks and insurance companies with International Standards on disclosure system
[Baghdad – where]
bank decided Alrmerkza Iraq transition from uniform accounting system for banks and insurance companies to the international disclosure standards.
The bank said in a statement received by all of Iraq [where] a copy of it, he was “for banks and insurance companies that can shift it must shift from 2015, and in view of the end of fiscal year 2015 and could not move immediately to international standards, so the banks and insurance companies to prepare the final accounts for the year 2015 two sets, one of them in accordance with the accounting system consolidated, and the second in accordance with International Standards on disclosure.
“He noted that” these steps in order to enable all the requirements of scanning the transition style disclosure and inventory variables for the next step of preparing the final accounts for 2016 according to international standards to disclose fully and binding ” .
He said the bank, he was “fully prepared with BSA and the Council of the profession of monitoring and auditing of the Iraqi Society of Certified Public Accountants to support this shift and provide Maittalb advice and experience through the provision of courses and lectures.
The World Bank stipulated that when given Iraq a loan B120qamh billion and $ 200 million the improvement of the Iraqi banking system .anthy