Учёт. Анализ. Аудит (Jan 2022)
Features of Supervisory Reporting of Professional Securities Market Participants
Abstract
The relevance of the research topic is due to the fact that since 2013, the Bank of Russia which acts as a mega-regulator of the financial market, has been delegated the powers to exercise supervision and control over it, including over the activities of its professional participants. Since the work of the latter is associated with the use of not only their own funds, but also with the attraction of clients’ funds, it is important to have constant control over their activities, where the main source of information is reporting. Supervised organizations are required to submit to the Bank of Russia not only accounting (financial) statements but supervisory statements as well. It makes possible to form a more complete picture of their activities. The goal of the study is to review the current composition and procedure for submitting supervisory and statistical reporting by professional participants in the securities market. The author uses methods of comparative and system analysis of scientific publications, regulatory and legal sources. Currently, there is an improvement in the legal regulation of the supervisory reporting of professional participants in the securities market. The Central Bank of the Russian Federation is implementing a project to switch non-bank financial institutions to an electronic reporting format based on eXtensible Business Reporting Language (XBRL) specifications [1]. This allows to present more reliable and high-quality reporting data, increase the openness and transparency of the financial information provided by financial market participants. The project includes a sequential transition for all non-bank financial institutions but XBRL reporting is already mandatory for a number of institutions. As a result, the concept of “supervisory-statistical reporting” and the content of reporting forms. Also, the author identified the advantages of using the XBRL format and the complexity of its implementation in supervised organizations. The conclusion was made about the need to improve the legal regulation and expand the scope of digital technologies.
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