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ECCB ANNUAL REPORT 2016/2017
Compliance With International Financial Reporting
Standards
The Bank has been in compliance with International
Financial Reporting Standards (IFRS) since the
beginning of the 2004 financial year.
In February 2017, the Bank hosted a workshop on
IFRS 9 Financial Instruments. The new financial
reporting standard, IFRS 9, takes effect on 1 January
2018 and sets out the requirements for recognising
and measuring financial assets and liabilities. IFRS
9 is the International Accounting Standards Board’s
replacement of International Accounting Standard
(IAS) 39 Financial Instruments: Recognition and
Measurement.
CODE OF CONDUCT
The Bank’s overriding code of conduct is encapsulated
in its value statement as follows: “The Bank values a
results-focused approach in delivering timely, relevant
and high quality output for the benefit of the people of
the ECCU.” The behaviour of management and staff is
governed by various policy documents including:
•
•
The Eastern Caribbean Central Bank Corporate
Governance Charter
•
•
S. T. A. R. Mantra
•
•
Flexi-time and Punctuality Policy
•
•
Conflict of Interest Policy
•
•
Media Relations Policy
•
•
Information Systems and Security Policy
•
•
ECCB Staff Regulations
•
•
Training and Staff Development Policy
•
•
The ECCB’s Guide – Protocol, Diplomacy and
Etiquette
•
•
The ECCB’s Guide – Effective Communication
•
•
The ECCB’s Guide – Successful Meetings and
Events Management
•
•
Energy Management Policy
HUMAN RESOURCE MANAGEMENT
The Bank is subject to the labour codes and laws of each
of its member countries. The oversight of the Bank’s
human resources is delegated to the Human Resource
Department. The management of human resources
is informed by polices and guidelines which conform
to international conventions and standards pertaining
to human rights, equal employment opportunity and
working conditions.
As part of the Bank’s reformation, a Human Resource
Committee was established to provide additional
support to the human resource function.
RELATIONSHIP WITH STAKEHOLDERS
Corporate Social Responsibility
The ECCB recognises its corporate social responsibility
to the people of the region. The Bank’s continued
efforts to expand its public relations and community
outreach programmes is in support of this corporate
social responsibility.
Stakeholder Involvement
In its thrust to continually improve its relationship
with stakeholders, the Bank convenes a number of
networking and consultative meetings throughout the
year. These meetings provide a forum for engagement
with the public and private sectors and commercial
banks on an array of issues that help to inform policy
within the ECCB member states.