Central Bank awaits banks' measure plans on IFRS implementation

The Romanian banks will report the financial results by the International Financial Reporting Standards (IFRS) starting in 2012 and, therefore, they must submit measure plans to be monitored by the National Bank of Romania (BNR), the Central Bank Governor Mugur Isarescu said on Monday.'The financial reporting framework was updated in the first half-year so as to meet the monitoring authority's needs. The BNR worked out and sent to public consultation the draft regulations required ...

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