Azerbaijan, Kazakhstan discuss enhancing transparency in financial reporting

The Central Bank of Azerbaijan (CBA) and the National Bank of Kazakhstan exchanged views on key issues related to increasing transparency in financial reporting, Report informs, referring to the CBA.

The CBA held a meeting with a delegation from the National Bank of Kazakhstan within the framework of bilateral cooperation.

The interactive meeting focused on sharing modern practices in the financial sector, particularly among central (national) banks, including regulatory innovations.

Discussions also covered the capabilities and development of current automated banking information systems for consolidated financial reporting, the recognition and valuation of financial instruments, other assets and liabilities in line with International Financial Reporting Standards (IFRS), as well as the implementation of new financial reporting standards.