The Committee of European Banking Supervisors (CEBS) has decided today to start a formal consultation with the banking industry, market participants
and end-users
to amend its Guidelines on Financial Reporting.
The proposed amendments to the Guidelines on Financial Reporting incorporate the
option included in International Accounting Standard 19 Employee Benefits, paragraphs
93A-D. In the current version, this possibility was not included in the Guidelines.
Therefore, a limited amendment is proposed to make this option available.
Additionally, a number of changes have been introduced in the consultative paper.
These changes aim to introduce further consistency in the Guidelines, either aligning
the terminology used for the same items in different templates, or providing additional
references. In some cases, it also involves deleting or adding some cells to the
existing templates, depending on whether an omission or an inconsistency was found
during the implementation of the Guidelines at national level.
Given the characteristics of the proposal, CEBS considers it introduces limited
amendments and, in accordance with the procedure envisaged in the Consultation Paper
on Amendments to Consultation Practices, the consultation period will last one month.
Comments should be submitted by 20 May 2007 to CP06rev@c-ebs.org.
Unless respondents request otherwise, comments received will be published on the CEBS website. Click here for
more information.