modalities of self - reporting gis data as well as assisting you in capacity building towards usage of the datasets to inform policy and business strategies. already b & mgf has initiated a pilot in self - reporting of gis data in order to achieve sustainability and we welcome you all to participate. bis central bankers ’ speeches finally, i would like at this juncture to inform you that we have just concluded conducting the fourth round of the finaccess household surveys, 2015 and data cleaning is on - going. in this regard, we shall be inviting you to the launch of the top - line findings early next year around february 2016. we, therefore, urge you to diarise this activity as triangulation of datasets from both finaccess geospatial mapping survey, 2015 and finaccess household surveys, 2015 will provide deeper understanding of kenya ’ s financial inclusion landscape. with these few remarks, i welcome you to this breakfast event and launch the survey key findings and wish you fruitful deliberations. thank you! bis central bankers ’ speeches

from a prudential perspective. while ifrs disclosures focus on assessing the current financial position of an enterprise, basel ii disclosures are more forward - looking. given the different focus of accounting and prudential standard setters, it is to be expected that the disclosure requirements under the two standards differ in some respects. ifrs disclosures are made in the financial statements by all enterprises that prepare and submit financial statements. on the other hand, disclosures under pillar 3 are required to be made only by banks that are implementing basel ii. moreover, pillar 3 disclosures need not necessarily be made in the financial statements. ifrs and basel ii disclosures do, however, complement as well as supplement each other in several ways. both require corporates to provide information on their capital, the risks exposed to, and how these risks are managed. disclosures are required to be made " through the eyes of the management ". this enables the user of information to view and assess a firm in the same way its management would. disclosures under both ifrs and basel ii include a good mix of quantitative and qualitative aspects. consistent, comprehensive and comparable disclosures contribute to effective market discipline. ifrs and basel ii disclosures try to ensure that this goal is met. there is potential for achieving synergies in disclosures under ifrs and basel ii by defining risk parameters in a common way, and developing common processes and data collection methodologies. this could lead to a consistent basis for internal reporting to the management of the enterprise and external reporting to the supervisors or regulators and other stakeholders. challenges with ifrs and basel ii compliance with ifrs will assist banks to comply with certain aspects of basel ii. both ifrs and basel ii intend to leverage on market discipline by requiring the disclosure of certain information. basel ii encourages development of more refined approaches to the measurement of risks and greater transparency while ifrs strives to support broader and more sensitive recognition and disclosure of risks. through financial reporting, the management of banks and non - bank financial institutions provide their shareholders, potential investors and other stakeholders with the past results of the business being managed and supervised. these reports give more in - depth insight into the income statement, balance sheet and cashflow and therefore, help the users of these reports better understand and assess the financial performance of the business. the market participants base their investment decisions mainly on the financial reports, thus reinforcing the importance of providing adequate and accurate information. although financial reports are a