Regulatory Alerts2012-10-11
Rules on the Preparation, Submission and Supervision of Consolidated Prudential Reports (with amendments dated 15 April 2010)
The Central Bank of the Republic of Azerbaijan issued these Rules to standardize the preparation, submission, and supervision of consolidated prudential reports for banks and holding companies. The document mandates that financial statements comply with International Financial Reporting Standards, be submitted semi-annually and annually within strict deadlines, and include detailed structural schemes, external audit reports, and risk assessments. It further requires banks to implement internal data-collection procedures, adhere to capital adequacy norms, and face regulatory sanctions or share restrictions for non-compliance.
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