WNAM REPORT: The Central Bank of Azerbaijan (CBA) and the National Bank of Kazakhstan have discussed the implementation of new financial reporting standards.
The meeting took place within the framework of bilateral cooperation as the CBA hosted a delegation from the National Bank of Kazakhstan.
During interactive discussions held at the Central Bank, the focus was placed on exchanging modern practices in the financial sector — particularly within central (national) banks — and sharing experiences on regulatory innovations.
Participants reviewed the capabilities and development of current automated banking information systems for consolidated financial reporting, the recognition and valuation of financial instruments, assets, and liabilities in accordance with International Financial Reporting Standards (IFRS), and the implementation of new financial reporting standards.
The sides also exchanged views on enhancing transparency in financial reporting and other issues of mutual interest.
