Section 40: Annual financial statements and reports

2[40. Annual financial statements and reports.⸺(1) The financial year of the Bank shall begin on the first day of July of a calendar year and end on the last day of June of the next calendar year. (2) The Bank shall formulate accounting policies and procedures and prepare financial statements in line with internationally recognized accounting standards as adapted by the Board in light of the special nature of central bank operations. (3) Within four months after the close of each of its financial year, the Bank shall publish on its website and submit to the Federal Government and the Majlis-e-Shoora (Parliament) financial statements, approved by the Board, signed by the Governor, the Deputy Governor and the chief financial officer, along with the auditors’ report thereon. (4) The Bank shall prepare and publish, within five days of the close of the week, on its official website weekly accounts pursuant to a proforma approved by the Board.] CHAPTER V GENERAL

Effective date: 1956-04-18

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