Regulatory Alerts2015-01-27
Amendment of Decision No. 5 on Internal Audit Requirements for Lebanese Capital Markets Companies
The Capital Markets Authority of Lebanon issued Announcement No. 13 to amend Decision No. 5, establishing updated internal audit and external auditor requirements for four categories of Lebanese joint-stock companies. The amendment permits Category 3 and 4 firms to outsource internal audit functions to qualified external institutions while mandating that Category 1, 2, and 4 companies appoint at least one external auditor and Category 3 firms appoint at least two. All affected entities must notify the Capital Markets Authority of their auditor appointments, submit annual compliance reports, and achieve full regulatory adherence within one year of publication.
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