Regulatory Alerts2016-08-08
Instruction No. 07/2016 of August 8 on the Effective Interest Rate Method for Financial Instruments
The Bank of Angola issued Instruction No. 07/2016 to establish mandatory procedures for banking financial institutions applying the effective interest rate method under IAS 39. The directive defines eligible and ineligible revenues and expenses, specifies calculation methodologies, and mandates specific accounting treatments and system parametrizations. It requires full compliance by institutions adopting IFRS in 2016 and establishes that IASB standards prevail in case of conflict.
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