The official site of Italy's central bank

Rules on the financial statements

In the banking and financial world, the financial statement is an important means of ensuring transparent information for all those involved in an undertaking or who enter its orbit: shareholders, employees, customers, suppliers, investors.

The statements also help the Bank of Italy fulfil its role as supervisor of banks and other intermediaries. For this reason, in 1992 the Bank of Italy was granted regulatory and disciplinary powers concerning the preparation of balance sheets (known as the "technical forms").

Since 2005, when the European Union extended its adoption of the international accounting standards to the preparation of banking and financial statements, the Bank of Italy has exercised these powers in compliance with the international accounting standards (IASS/IFRSS).

In 2008, the Bank of Italy, Consob and ISVAP established the Coordination Forum on Applying IASS/IFRSS.