Regulatory Compliance of IAS # 30 of the Private Commercial Banks Disclosure of Bangladesh: An Empirical Study on Ten Selected Banks

Abstract

The paper is an effort to scrutinize the prevailing accounting standard for the private Commercial Banks in Bangladesh and find out the extent of compliance by them. Banking industry’s nature of operation is totally different from others. Recognizing this aspect some specific IASs (International Accounting Standards) have been prescribed for them. One of which is IAS#30 (Disclosures requirements for Banks and similar financial institutions). Institute of Chartered Accountants of Bangladesh (ICAB) prescribed to comply with IAS#30 from on or after 1^st January, 2010. Hence compliance of IAS 30 (superseded as IFRS 7) is of importance here. Scrutinization has been operated on 10 private commercial Banks. As per requirement, all the Commercial Banks are required to comply with the standard to uphold the stakeholders’ interest .And the result of the study shows that all of the private Commercial Banks compliance almost 87.5% of the IAS#30 (IFRS 7) requirements. Finally this study recommend on the degree of compliance for the Commercial Banks financial reporting.

Keywords: Compliance IAS, IFRS, Bank, Private Commercial Banks,