The Bank of Spain has issued Circular 1/2025, revising Circular 4/2017 (the ‘contable’ circular) and Circular 1/2013, to simplify financial reporting obligations for supervised institutions. The change aligns Circular 4/2017 with the European Union’s international financial reporting standards (IFRS‑UE) and initiates a process to replace certain reserved financial statements with granular information obtained through the Central Information on Risks (CIR). The update, published in the Official State Gazette, aims to reduce reporting complexity for entities under supervision while maintaining compliance with EU financial reporting rules. Additionally, the circular revises the models of financial statements required for supervised entities, ensuring that the information they provide aligns with the latest EU standards. The objective is to reduce the administrative burden on these institutions.
© Banco de España 2009.
Summary adapted from material on the Banco de España website (https://www.bde.es ).
https://www.bde.es/wbe/en/noticias-eventos/actualidad-banco-espana/el-banco-de-espana-modifica-dos-circulares-para-simplificar-el-reporte-financiero-de-las-entidades-supervisadas.html
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