Regulatory Alerts2019-09-09 | 112643Regulation on Requirements for Accounting Policy of Commercial Banks and Other Financial and Credit Organizations Licensed by the National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic issued this regulation to establish mandatory requirements for the accounting policies of commercial banks and other licensed financial and credit organizations. The document mandates that these policies must align with International Financial Reporting Standards (IFRS), ensuring accurate financial reporting, robust internal controls, and clear accountability for management and chief accountants. It further specifies the procedural framework for developing, approving, and annually reviewing accounting policies, including detailed rules for recording payment operations and handling non-standard transactions.
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