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Financial system reform in Thailand
In 2004 Thailand began to implement the Financial Sector Master Plan (FSMP), a long-term reform program aimed at creating a more efficient, transparent, and internationally competitive financial sector that can serve a larger proportion of the Thai population. With the first phase of the FSMP completed in 2009, Thailand announced that a second phase of financial sector reforms will begin in 2010. This Asia Focus report provides an overview of the FSMPs development, highlights key reform measures completed under Phase I, and describes measures proposed under Phase II and some of the challenges ...
Implementing international financial reporting standards in Asia: Bringing greater transparency and comparability to Asian banks financial statements
This Asia Focus reviews the status of the implementation of International Financial Reporting Standards (IFRS) in various Asian economies, discusses the benefits of using one set of internationally accepted accounting principles, and provides some background information on the ongoing reviews of different jurisdictions' accounting practices in connection with the federal banking agencies supervision of foreign banking organizations (FBOs) that operate in the United States.