Regulatory Alerts2018-12-06 | CD-SIBOIF-1088-3-DIC6-2018Norm Reforming Articles 9, 10, and 11 of the Standard on Evaluation of Balances in Accounts Receivable and Assets Acquired in Recovery by General Warehouses
The Board of Directors of the Superintendence of Banks and Other Financial Institutions issued Resolution No. CD-SIBOIF-1088-3-DIC6-2018 to amend the valuation standards for General Warehouses to align with IFRS and prudential regulations. The reform mandates specific accounting treatments for adjudicated assets under IFRS 5 and IFRS 13, while establishing mandatory provision percentages for movable and immovable property based on holding periods. These provisions become effective January 1, 2019, with immediate applicability to interim financial statements during the IFRS 1 transition period.
Share