COREP - Profit Loss , Other Reserves, ICF (Video)

Foreign that management wants to include interim profits in its own funds calculations despite audited losses then its interim results should be audited by an independent licensed audit and Assurance firm and be approved by PSI SEC before they are used given the tight deadlines of correct reporting the above approach is Not Practical and is it rarely used the references from PSI SEC circulars c305 and European banking Authority other reserves calculations other reserves as per the statement of should be reserves available to the CIF if such reserves are refundable or payable back to the persons who contributed them they should be deducted from the calculations of owned funds commonly other reserves may include non-fundable contributions from shareholders or other connected parties non-refundable as the word suggests means that these contributions have been given to the CIF and they belong to the CIF without any constraint these reserves should not be deducted