# The Building Societies (Accounts and Related Provisions) Regulations 1992, Paragraph 1: Accounting policies


(1) There shall be stated the accounting policies (including such policies with respect to the depreciation and diminution in value of the assets of the society) adopted by the society in determining the amounts to be included in respect of items shown in the income and expenditure account, the balance sheet and the statement of the source and application of funds.
(2) It shall be stated whether the accounts have been prepared in accordance with applicable accounting standards; particulars of any material departure from these standards and the reasons for such departure shall be given. Sums denominated in foreign currencies 2. Where any sums originally denominated in foreign currency have been brought into account under any items shown in the balance sheet, income and expenditure account or statement of source and application of funds, the basis on which those sums have been translated into sterling shall be stated.

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Source: https://www.legislation.gov.uk/uksi/1992/359/schedule/5/paragraph/1 (the official version)
Page: https://openlegislation.uk/building-societies-accounts-and-related-provisions-regulations-1992/schedule-5/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.