Regulatory Alerts2012-01-27
Regulatory Duties of Statutory Auditors in CEMAC Credit Institutions
The Central African Monetary Commission (COBAC) mandates that statutory auditors of CEMAC credit institutions perform specific regulatory duties, including systematic internal control reviews, prompt alert obligations regarding financial and operational risks, and continuous communication with the supervisory authority. These requirements govern auditor appointment and cessation procedures, mandate compliance with OHADA and international accounting standards, and address frequent non-compliances observed in audit missions. The framework ensures greater transparency, strengthens auditor independence, and aligns local banking supervision with international best practices.
Share