Barclays 2014 Annual Report Download - page 248

246 I Barclays PLC Annual Report 2014 barclays.com/annualreport
Presentation of information
Barclays approach to disclosures
The Group aims to continually enhance its disclosures and their
usefulness to the readers of the financial statements in the light of
developing market practice and areas of focus. Consequently Barclays
disclosures go beyond the minimum standards required by accounting
standards and other regulatory requirements.
Barclays continue to support the recommendations and guidance
made by the Enhanced Disclosure Taskforce (EDTF). The EDTF was
formed by the Financial Stability Board with a remit to broaden and
deepen the risk disclosures of global banks in a number of areas,
including liquidity and funding, credit risk and market risk. Barclays has
fully adopted the recommendations across the Annual Report and Pillar
3 report.
In line with the Financial Reporting Council’s guidance on Clear and
Concise reporting, for 2014 Barclays has focused reporting on material
items and sought to reorganise information to aid users understanding.
It is Barclays view that best in class disclosures will continue to evolve
in light of ongoing market and stakeholder engagement with the
banking sector. Barclays are committed to engaging with a published
Code for Financial Reporting Disclosure (the Code). The Code sets out
five disclosure principles together with supporting guidance which
states that UK banks will:
Q Provide high quality, meaningful and decision-useful disclosures;
Q Review and enhance their financial instrument disclosures for key
areas of interest;
Q Assess the applicability and relevance of good practice
recommendations to their disclosures acknowledging the
importance of such guidance;
Q Seek to enhance the comparability of financial statement disclosures
across the UK banking sector; and
Q Clearly differentiate in their annual reports between information that
is audited and information that is unaudited.
British Bankers’ Association (BBA) Code for Financial Reporting
Disclosure
Barclays has adopted the BBA Code for Financial Reporting Disclosure
and has prepared the 2014 Annual Report and Accounts in compliance
with the Code.
Statutory Accounts
The consolidated accounts of Barclays PLC and its subsidiaries are set
out on pages 255 to 259 along with the accounts of Barclays PLC itself
on pages 260 and 261. The accounting policies on pages 262 to 264
and the Notes commencing on page 262 apply equally to both sets of
accounts unless otherwise stated.
Capital Requirements Country-by Country Reporting
HM Treasury has transposed the requirements set out under CRD IV
and issued the Capital Requirements Country-by-Country Reporting
Regulations 2013, effective 1 January 2014. The legislation requires
Barclays PLC to publish additional information in respect of the
year ended 31 December 2014. This information is available on the
Barclays’s website: barclays.com/citizenship/reports-and-publications/
country-snapshot.html