Course Objectives

• This Course Objective Hasn't Been Provided Yet

Target Audience

This course is designed to equip central bankers to meet these challenges. Each day will feature three hours of expert-led Live Content to maximise the opportunity to share and learn. The chair will ensure participants have opportunities to network throughout the course, culminating in a workshop on practical implementation.

Course introduction

Course introduction session led by the chair

• Introductions and welcome from the chairperson
• Overview of the training course
• Discussion of the delegate expectations

Legal frameworks under a multi-mandate environment

• The expanding mandates and evolving governance structure of central banks
• Comparative analysis of developments in selected countries
• Discussion: how to manage the potential policy conflicts and increased scrutiny of central banks actions due to expanding mandates

The reality of central banking under a multi-mandate framework

• The key issues facing financial reporting in the modern central bank
• Operational challenges central banks face in adapting to the new environment
• Implications for balance sheets, contingent liabilities and shareholder relations
• Discussion: impact of Covid-19 measures on balance sheets in participants’ home jurisdictions

CBDCs: how will they shape central banks?

• What are the models for CBDCs and how would they work?
• What are the opportunities and risks for central banks and the banking system?
• Discussion: lessons from CBDC projects?

Specific accounting and reporting challenges facing central banks

• Appropriate central bank reporting framework
• Specific challenges in IFRS and central bank responses
• Accounting policies to best match policy performance
• Discussion: How financial statements can add value

European Central Bank reporting framework

• ESCB Accounting Guidelines and Financial reporting framework
• Origins and environment for ESCB accounting
• Outline of key accounting concepts
• Role of provisions, reserves and distributions in ESCB framework
• Financial statements and reporting financial performance
• Accounting challenges going forward

Protecting policy solvency: the question of capital structures

• Evaluating the relationship between a central bank's capital arrangements and its functions
• Overview of models of profit and loss sharing across central banking
• The impact of Covid-19 measures on central bank balance sheet and results
• How can capital arrangements be improved in participants’ home institutions?

Central bank profit (and loss) sharing models

• Evaluating the relationship between a central bank's capital arrangements and its functions
• Considerations for determining profit distribution models
• Overview of models of profit and loss sharing across central banking
• Considerations for future arrangements

Understanding and managing operational and financial risks in a central bank governance framework

• Components of central bank governance
• Identifying the key risks a central bank face
• Overall risk management framework
• Ensuring effective co-ordination within the risk functions
• Understanding the implications of risk management for the quality of governance
• Addressing operational and financial risks

Aligning resource use with mandates: functional reporting for a central bank

• Reporting by function vs reporting by department: a comparison
• Strategies for an effective functional reporting
• Implications for transparency and interdepartmental cooperation
• Case study: how to report the costs (and income) by function

Audit: a cornerstone of governance

• Central bank audit: a 21st century audit for a 21st century institution
• Communication: how should central bank finance and other departments communicate with external audit
• Financial Reporting and disclosures: what criteria the auditors use to assess the appropriateness of the reporting frameworks and accounting policies
• Strategies to deal with the challenges of the audit process at central banks

Oversight and accountability: an effective framework for co-operation

• How do accountants work effectively with the board?
• What are the needs of the board and how can they encouraged to be an effective part of financial reporting?
• Understanding independence: how can those in financial reporting help the board maintain its independence
• Discussion: practical examples from delegates home jurisdictions

Closing remarks and delegate action plans

Concluding session led by the chair

• Summary of the course
• Discussion of the observed trends and case studies
• Application of learning points in the delegates’ home organisations
• Preparation of action points

This course hasn't been scheduled yet, however you can request for In-House training