BANK 2.1.6 Accounts and statements to use international standards

(1) A banking business firm must prepare and keep its financial accounts and statements in accordance with IFRS, US GAAP or other accounting standards approved in writing by the Regulatory Authority.
(2) If the firm decides to prepare and keep its financial accounts and statements in accordance with a standard other than the one it has previously used, it must notify the authority in writing before beginning to do so.
Amended by QFCRA RM/2015-3 (as from 1st January 2016).