2025-10-14

Procedure for the Selection and Contracting of Audit Firms

The Monetary and Financial Council (CDMF) has approved a mandatory procedure for the Superintendence of Banks and Other Financial Institutions (SIBOIF) to select and contract independent audit firms for auditing its annual financial statements. The regulation establishes strict eligibility criteria for firms, including CGR registration and a mandatory rotation period, while defining a structured selection process involving a committee, technical and economic evaluations, and direct contracting options if the process is declared void. Upon completion, the audit report must be approved by the Council and the financial statements published in the Official Gazette and on the SIBOIF website.

Nicaragua

Superintendencia de Bancos y de Otras Instituciones Financieras

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