Regulatory Alerts2021-01-01 | JPRM-2021-009-GJPRM-2021-009-G — Policies for the Presentation and Preparation of Financial Statements
The Monetary Policy and Regulation Board of Ecuador issued Resolution JPRM-2021-009-G to establish mandatory accounting policies, a standardized chart of accounts, and a four-system asset-liability distribution methodology for the Central Bank of Ecuador. The resolution mandates that all financial statements comply with International Financial Reporting Standards (IFRS) adapted to the central bank's public law nature, ensuring annual and monthly reporting for regulatory approval and public finance oversight. It further defines fundamental accounting principles, financial statement elements, and qualitative information characteristics to guarantee transparency, fiscal backing rule compliance, and the preservation of dollarization integrity.
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