Regulatory Alerts2016-08-02
Dispositions - Instructions for the preparation of financial statements by microcredit operators and minor guarantee funds
The Bank of Italy issued binding instructions for non-IFRS intermediaries, specifically microcredit operators and minor guarantee funds, regarding the preparation of individual and consolidated financial statements. These dispositions mandate specific accounting principles, balance sheet structures, and disclosure requirements, applying primarily to fiscal years ending on or after December 31, 2016. The document defines key terms, outlines consolidation methods, and establishes detailed reporting standards to ensure a true and fair view of the entities' financial positions.
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