Compliance of BFRS 7 by Private Commercial Banks in Bangladesh
Hassan, Md. Arif
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This paper is aimed to scrutinize the disclosure requirements of private commercial banks in Bangladesh under Bangladesh Financial Reporting Standard (BFRS) 7 and find out the degree of compliance by them. To find out the degree of compliance of BFRS 7 the researcher has gone through the annual reports of all the six sample banks. This analysis shows that the degree of compliance with BFRS 7 by private commercial banks is satisfactory, though not absolute. The study reveals the existence of a monitoring and enforcement mechanism which fin0ds to be not too rigorous. This study suggests that central bank in collaboration with other regulators should come together to develop a unique model for banks and mandate the compliance of BFRS to ensure transparent representation to the stakeholders.