In international practice the assessment of bank’s performance is carried out on the financial statements according to the IFRS. Preparation of such statements is based on common principles of international financial reporting standards and is independent of company’s country of residence. Financial statements in accordance with IFRS are prepared in order to provide the information about financial position, operating results, generating and utilization of cash flows to relevant users.
JSC "Development Bank of the Republic of Belarus" has been preparing financial statements according to the IFRS since 2012. Preparation of such statements is essential to provide comparable and transparent data to foreign partners taking into account international business as one of the Bank’s priorities.
To ensure completeness and reliability of the Development Bank’s reported data internationally recognized audit companies conduct audit of its annual financial statements under the IFRS, as well as review of semi-annual financial statements under IFRS.