Regulatory Alerts2016-11-17
Guidelines Concerning Accounting and Financial Reporting for Banks
The Central Bank of Liberia mandates licensed banks to adopt International Financial Reporting Standards for all accounting and financial reporting. Banks must report in Liberian Dollars, apply prescribed policies for financial instruments and asset impairment under IAS 39 or IFRS 9, and publicly disclose capital adequacy, asset quality, and regulatory penalties. With compliance required for interim statements from September 2016 and audited reports by December 2016, these guidelines replace the 2005 manual to ensure transparent and standardized financial disclosures.
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