Turmoil and Transparency brings together the guidance from the worldâs financial reporting organisations into a single document for banks currently preparing their half-year reports.
The paper provides BBA commentary on the recent papers issued by the G7âs finance ministers and central bank governors, the Financial Stability Forum, the Committee of Central European Bank Supervisors and the Committee of European Securities Regulators on 10th July. It also includes a statement made today by the European Financial Reporting Advisory Group and three national standards setters.
Paul Chisnall, Executive Director, Financial Policy and Operations at the BBA said:
âThe credit crunch focused the international standard setters on the way complex financial structures should be reporting their results. This paper brings together their views, together with the BBAâs views on what our members might do with all of this new information.â