Regulatory Alerts2017-01-05
Guidelines on Communication between the Central Bank of Seychelles and Internal Audit Functions of Banks
The Central Bank of Seychelles issues these guidelines to establish a structured communication and cooperation framework between the regulator and the internal audit functions of banks and other financial institutions. The framework mandates biannual meetings, allows for ad-hoc sessions based on institutional complexity, and directs discussions toward risk management, external auditor coordination, audit committee functioning, and corporate governance implementation. Banks must submit internal audit reports, charters, plans, and relevant meeting minutes to the regulator, while the Central Bank provides recommendations and shares accounting data to strengthen internal controls and regulatory reporting.
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