Regulatory Alerts2016-06-22 | NDMC-08Added · Updated
Accounting Manual for Investment Funds
The Standards Committee of the Central Reserve Bank of El Salvador issues the Accounting Manual for Investment Funds, establishing mandatory accounting standards for investment funds authorized by the Superintendence of the Financial System. The document mandates uniform procedures for the recognition, measurement, presentation, and disclosure of fund operations, requiring the maintenance of independent accounting records separate from those of the fund managers. It specifies submission deadlines for monthly, semi-annual, and annual financial statements, including an eight-day deadline for monthly reports and a fifteen-day deadline for definitive semi-annual and annual balances. The manual also regulates the approval of accounting systems, the catalog of accounts, and the responsibilities of fund managers regarding daily transaction recording and information security.
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