The Presidents/ Chief Executives
All Banks/ DFIs
Dear Sirs/ Madam,
Disclosure requirements in Annual Financial Statements
This refers to BSD Circular No. 04 dated February 17, 2006 on the cited subject.
2. It has been observed that Banks/ DFIs are not complying with the disclosure requirements for preparation and reporting of annual audited financial statements, particularly when it comes to disclosing sub-head ‘Others’ in various notes. To ensure the proper disclosure and uniformity in reporting, banks/ DFIs are advised to make disclosure under the following notes as specified in the “Required” column:
|
Sr. No. |
Note No. |
Required |
|
|
| Other Income (29) – Others (to be specified) |
|
| Sub-items, along with amounts, should be specified under the “Others” head. |
|
|
|
| Administrative Expenses (30) – Others (to be specified, if material) |
|
| Amount will be considered material in “Others”, if it is equal to or greater than 5 percent of main head or Rs. 200 million, whichever is less. If the amount is material, sub-items, along with amounts should be specified under the “Others” head. |
|
|
|
| Other Charges (31) – Others (to be specified, if material) |
|
-do- |
3. The above instruction will be applicable with immediate effect. All Banks/ DFIs are advised to ensure meticulous compliance with the above disclosure requirements.
Please acknowledge receipt.
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