Annual Accounts and Report as at 30 June 2011 Draft - Mediobanca

PART A - ACCOUNTING POLICIESSectction 1Statement of conformity with IAS/IFRSThe Mediobanca Group’s consolidated financial statements for the periodended 30 June 2011 have, as required by Italian Legislative Decree 38/05, beendrawn up in accordance with the International Financial Reporting Standards(IFRS) and International Accounting Standards (IAS) issued by the InternationalAccounting Standards Board (IASB), which were adopted by the EuropeanCommission in accordance with the procedure laid down in Article 6 of regulationCE 1606/02 issued by the European Council and Commission on 19 July 2002.Adoption of the new accounting standards with respect to financial reporting bybanks is governed by Bank of Italy circular no. 262 issued on 22 December 2005(as amended on 18 November 2009).Section 2General principlesThese consolidated financial statements comprise:– balance sheet;– profit and loss account;– comprehensive profit and loss account;– statement of changes to net equity;– cash flow statement (direct method);– notes to the accounts.All the statements have been drawn up in conformity with the generalprinciples provided for under IAS and the accounting policies illustrated insection 4, and show data for the period under review compared with that for theprevious financial year in the case of balance-sheet figures or the correspondingperiod of the previous financial year for profit-and-loss data.– 73