A digital opportunity to transform financial reporting
The Covid-19 pandemic raises the urgency of digitising supervision, say David Hardoon and Viswanathan Namasivayam
Financial regulators rely on timely and accurate reporting by financial institutions. Such data gives assurance of an organisation’s adherence to regulations, laws and guidelines, and helps prevent, detect and address deviations. Some regulatory reporting information is also used for public disclosure, helping investors, depositors and creditors assess the financial condition of the reporting institutions.
Traditionally, regulators have taken a compliance-driven approach to supervision
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