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RBFRP: Financial Reporting Package (FRP) |
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To: ALL MEMBER BANKS
From: GEN. WILLIAM K. HOTCHKISS III (RET.) RBAP President Date: 8/25/2005 Re: Proposed Financial Reporting Package (FRP) ------------------------------------------------------------ We received an email from Bangko Sentral Deputy Governor Nestor A. Espenilla, Jr. informing us that the BSP-BAP IAS Committee has prepared a proposed Financial Reporting Package (FRP) regarding the adoption of the Philippine Financial Reporting Standards (PFRS)/Philippine Accounting Standards (PAS). The attached proposed FRP, which is to be submitted quarterly, will replace the existing Consolidated Statement of Condition, Consolidated Statement of Income and Expense and other schedules supporting them. The same is already tailored to the reporting requirements for rural banks. Deputy Governor Espenilla informed us that the BSP is planning to have a trial parallel run on the proposed FRP for the end September 2005 reports for submission by November 11, 2005. In this regard, Deputy Governor Espenilla is requesting us to comment on the proposed Financial Reporting Package. Kindly submit your comments to RBAP on or before August 29, 2005 thru fax no. 527-29-80 or thru my personal email address: president@rbap.org. Thank you for your usual cooperation. Download RBFRP: Financial Reporting Package |
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