PD-3.1 PD-3.1 Publication of reviewed (unaudited) quarterly financial statements
PD-3.1.1
The content of this section is applicable only to locally incorporated banks licensed by the Agency.
PD-3.1.2
Banks should prepare reviewed (unaudited) quarterly financial statements on a quarterly basis in accordance with International Accounting Standard 34 (Interim Financial Reporting). Such reviewed quarterly financial statements should be in the same form, and should be prepared on the same basis, as is required by Bahrain law for banks' annual published financial statements.
PD-3.1.3
Banks' unaudited quarterly financial statements should be reviewed by their external auditors who must also make a statement regarding the results of such review. Such review and statement should be made in accordance with the International Standard on Auditing Applicable to Reviews (RSI and RS2) as established by the International Federation of Accountants.
PD-3.1.4
The reviewed quarterly financial statements should be published in one Arabic and one English daily newspaper widely available in Bahrain and/or any other country in which any of its shareholders ordinarily reside, within sixty days of the end of the quarter to which such statements relate.
PD-3.1.5
The published quarterly statement must also include a statement of changes in shareholders' equity (see paragraph PD-1.3.5(f))
PD-3.1.6
Banks must submit a newspaper copy of the statements (referred to under paragraph PD-3.1.2) to the Agency within 60 days from the statements' date. The copy should be accompanied by a letter clearly showing on which date and in which publication(s) the statements were published.
