Description of Accounting Systems Monitoring
+ Additionally, to enhance the comparability of financial reporting and the effectiveness of surveillance practiced, the International Accounting Standards apply.
+ Before accounted for each transaction or similar transactions or accounting events controlled by the bodies responsible validity and compliance.
+ All verified operations shall be recorded in the accounting system promptly, accurately and with all necessary details, in accordance with the provisions of the applicable accounting standards and principles.
+ Both the initial recognition and subsequent measurement of each asset or liability, and the impact of the latter on the results or net worth, conducted in the manner provided in the applicable accounting standards.
+ Open positions from transactions involving market risks agreed at least monthly (reconciliation).
+ To ensure systematic and safe keeping of records as in the case provided by the institutional framework and in a way which allows subsequent access and verification (incorporating audit trails) and breeding of all transactions in chronological order, support of book entries with original documents and documentation of changes in account balances, with details of the movements that have taken place.
+ Regular as well as ad hoc checks carried out on the accounting records in order to monitor compliance with the approved methods of valuation of balance sheet items and the recognition of the result.
REPORTING TO THE SUPERVISORY AUTHORITIES
Regarding the submitted ESAs financial information and data ensure that:
It is complete, valid and based on accounting data, and so on off-book calculations or assessments that have been carried out properly and adequately documented.
Duly submitted within the prescribed deadlines.
Procedures for the selection and procurement of hardware and software and for adequate staffing of the competent departments, depending on the business needs, the outlook for the size and nature of the work and resources of the credit-financial institution, to ensure, at all times, adequate and effective accounting and IT support of the Bank's Human work.
There are the necessary means and backup data files as part of the required assurance for continuing the business of the credit institution.
The Bank maintains systems ensuring the monitoring, overall, per customer, balances and transactions relating in particular loans and deposits, both for effective risk management, and for the submission of the required data to the supervisory authorities, the Deposit Guarantee Fund and others.