Regulatory Alerts2016-03-31
Regulation on External Audit of Microfinance Institutions
The Central Bank of the Republic of Kosovo issued this Regulation to establish comprehensive requirements for the approval, conduct, and oversight of external auditors auditing microfinance institutions. It mandates that approved audit firms maintain independence, adhere to International Standards on Auditing and Financial Reporting Standards, and submit detailed annual audit reports alongside management letters. Furthermore, the regulation outlines strict quality control mechanisms, confidentiality obligations, and civil penalties for non-compliance to ensure accurate financial reporting and risk management within Kosovo's microfinance sector.
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