With regard to the central bank’s policy, the requirement that all measures of its policy must be taken in a clear and manageable sequence. Technical changes, including in the use of individual central bank policy tools – such as the transition from fixed rate tenders to variable rate tenders at the ECB – should be announced, justified and explained in advance. – In the context of financial reporting, the requirement that, in all areas of the financial statements, any changes in recognition and presentation methods from one period to another should be clearly explained and accurately disclosed in terms of their effect on the amount. – See forward guidance, guidance, verbal, information overload, plain language, open mouth policy, rule-based, vagueness, constructive, understandability, materiality, reliability, usefulness.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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