World Gold Council launches gold accounting framework
Guidance aims to help central banks harmonise treatment of gold in their accounts
The World Gold Council (WGC) has launched a new framework it hopes will give central banks a more straightforward method of accounting for their gold reserves.
The non-binding guidelines, published today (February 13), seek to cater to the demands of accounting for gold as part of a central bank’s reserves, which has often been problematic because of the International Financial Reporting Standards (IFRS) specifying that gold should be treated as a commodity.
“A whole myriad of different
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