Financial Reporting, Accountability and Independence in Central Banking
Date | Format | Duration | Fees (GBP) | Register |
---|---|---|---|---|
17 Mar - 21 Mar, 2025 | Live Online | 5 Days | £2850 | Register → |
19 May - 23 May, 2025 | Live Online | 5 Days | £2850 | Register → |
24 Aug - 01 Sep, 2025 | Live Online | 7 Days | £3825 | Register → |
01 Sep - 03 Sep, 2025 | Live Online | 3 Days | £1975 | Register → |
01 Oct - 03 Oct, 2025 | Live Online | 3 Days | £1975 | Register → |
17 Nov - 21 Nov, 2025 | Live Online | 5 Days | £2850 | Register → |
29 Dec - 09 Jan, 2026 | Live Online | 10 Days | £5825 | Register → |
Date | Venue | Duration | Fees (GBP) | Register |
---|---|---|---|---|
28 Apr - 02 May, 2025 | Dubai | 5 Days | £4200 | Register → |
02 Jun - 06 Jun, 2025 | Seoul | 5 Days | £4200 | Register → |
28 Jul - 01 Aug, 2025 | Prague | 5 Days | £4750 | Register → |
20 Oct - 24 Oct, 2025 | Boston | 5 Days | £5150 | Register → |
22 Dec - 02 Jan, 2026 | Cape Town | 10 Days | £8350 | Register → |
Why select this training course?
With the evolution of the financial crisis, most central banks are engaged in their local financial activities. There have been new policy implementations and programmes launched over time. Central banks have varying levels of disclosures of the new policy instruments; however, a significant market intervention supports key details exist. These movements of central banks’ balance sheet expansions can have a major effect on the historical ratios of the balance sheet regarding the central bank’s other important instruments, such as foreign currencies and gold.
However, it is not straightforward to identify these new policy instruments or measures because no consistent reporting procedure exists. Therefore, this course by Rcademy will teach participants the required skills to understand how financial reporting, accountability, and independence are handled in central banking.
Why is central banks’ independence important?
Central bank independence is considered important for several reasons:
An independent central bank can pursue a monetary policy to maintain price stability and promote economic growth without being influenced by political considerations. An independent central bank with a clear and transparent policy framework and a good track record of achieving its objectives is more likely to be trusted by the public, financial markets, and other stakeholders. It will be free from short-term political pressures. It can take a longer-term perspective when setting monetary policy, which is important for maintaining financial stability and promoting economic growth.
How to ensure the independence of Central Banks?
Central bank independence can be ensured through a combination of legal and institutional arrangements and the central bank’s policies and practices. Some ways to ensure central bank independence include:
- Statutory independence
- Limited government influence
- Transparency and accountability
- Professional management
- Adequate funding
- Political neutrality
Central bank independence is a slightly new concept that most professionals do not understand. Getting a good grasp of this idea will put the participants ahead of others in the financial field. Central bank independence was popularized in the 1970s. It has shown that it can bring stability and good governance for countries that want to have politics-free policies concerning money. Most central banks worldwide are struggling with financial reporting and independence, and it is critical to understand how these struggles affect monetary policies and other issues.
The Financial Reporting, Accountability and Independence in Central Banking Training Course by Rcademy will enable the participants to fully understand how to tackle management issues in the audit process, handle a multi-mandated environment, and gain deep insight into state-of-the-art banking. It will also give the participants hands-on experience in following the best accounting standards and practices for the new era of central bank reporting.
Who should attend?
The Financial Reporting, Accountability and Independence in Central Banking Training Course by Rcademy is designed to be ideal for:
- Banking managers
- Central banks governors
- Private sector participants
- Financial intermediary employees
- Supervising agencies
- Development banks
- Government ministries officials
- Any other interested professionals
- Economists
What are the course objectives?
The Financial Reporting, Accountability and Independence in Central Banking Training Course by Rcademy aims to enable participants to:
- Understand the audit process in central banks
- Gain insight into central banking accountability
- Analyse and optimize reporting process for central banks
- Understand how to handle multi-mandate challenges
- Assess best practices of accounting standards for modern central banks
- Discover the context of central banking
- Discuss the models of monetary policies and the mechanism of transmission
- Explain details behind the functions of bankers and advisors to the government
- Understand the process of making a monetary policies framework
How will this course be presented?
All Rcademy courses are designed, developed, and facilitated by the industry’s best professionals who are experienced in their field of specialization. This course will be delivered through a multiple-instructional setting that includes:
- Presentations
- Training notes and lectures
- Short videos
- Group discussions
- Case studies
What are the topics covered in this course?
Module 1: Introduction to Central Banking
- History of central banking
- Importance of central banking
- Bankers and government advisors
- Monetary policies
- Accountability in central banks
Module 2: Central Bank Independence
- The need for an independent central bank
- The cost of inflation
- The widespread shift towards greater independence
- International experience
- Measures and Analysis of central bank independence
- Price stability emphasis
- Independence goals
- Instrument independence
- Term of appointment of the central bank governors
- Measures of central bank independence today
- Treasury access to central bank credit facilities
Module 3: Central Bank Accountability, Monetary Policy Transparency
- Monetary policies decision making bodies
- Is central bank independence undemocratic?
- Increased demand for transparency and accountability
- Measuring monetary policies transparency
- Financial functions accountability objectives
- Monetary policies accountability
- Resources accountability
- Formal accountability arrangements
- Accountability mechanisms
- Case study
Module 4: Financial Resources Management
- Introduction
- Balance sheet exposure
- The central bank balance sheet
- Financial assets and liability
- Capitalising on the central bank
- The operating budget
- Framework for determining capital adequacy for central banks
- Central bank income
Module 5: Government and Central Banks’ Relationship
- Managing the relationship
– Informal approaches
– Directives
– Communication
– Memoranda of understanding - Nature of contracts
- Formal meetings
- Economic policymaking process: the role of central banks
- Informal contracts by governors
Module 6: Financial Reporting
- Introductions
- Banknotes in circulation
- Lending in domestic currency and market interventions
- Credit risks
- Gold and foreign currency assets
- Market risks
- Fair value disclosures
Module 7: Framework Policies in Accounting
- Analysis of income and expenses
- Securities and lending
- Presentation of cash flow statements
- Gold and foreign exchange
- Financial reporting framework
- Other financial instrument-related issues
Module 8: Capital Management
- Profit remittance and loss treatment
- Capital
- Reserves
- Collateral
- Other fiduciary functions
- Transacting
- Contingencies