Regulatory Alerts2016-10-26 | NASF-06Added · Updated
Accounting Manual for Electronic Money Provider Companies
The Central Bank of El Salvador's Standards Committee issued an accounting manual establishing mandatory uniform procedures for the recognition, measurement, presentation, and disclosure of operations by Electronic Money Provider Companies. The document defines the accounting framework, chart of accounts, and specific reporting requirements, including the submission of monthly financial statements within eight business days and semi-annual and annual statements within ten business days. It mandates the use of specific financial statement models and requires prior approval from the Financial System Superintendence for any changes to the accounting system or unanticipated transactions.
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