Contingent Liabilities: Issues and Practice by Aliona Cebotari

Author:Aliona Cebotari
Language: eng
Format: epub
ISBN: 9781452726878
Publisher: International Monetary Fund
Published: 2008-08-15T00:00:00+00:00

V. DISCLOSING CONTINGENT LIABILITIES

Risks associated with contingent liabilities can affect the sustainability of the current fiscal position. However, they are often either not reported to decision-makers or the information presented in financial statements or budgets is not readily visible or easily understood. Appropriate disclosure of consolidated information about contingent liabilities would make fiscal policy decisions more informed and may even trigger action to scale down the growth in balance sheet or off-balance sheet, contingent, obligations. Country experiences with contingent liability disclosure and the international transparency initiatives, which are discussed below, suggest that:

Institutionalizing the disclosure requirements in the country’s legislation provides a safeguard that this practice would continue even with political change;

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.