Regulatory Alerts2023-03-03
Additional Notes to Circular 61-3
The Central Bank of Haiti (BRH) has postponed the requirement for financial institutions with a total balance sheet exceeding 100 billion gourdes to appoint two independent auditors, at least one from an international audit group, for the 2024-2025 fiscal year. Affected institutions must still have their annual financial statements audited by a single independent auditor, whose mandate concludes at the end of the 2023-2024 fiscal year. This administrative notice, issued by Governor Jean Baden Dubois on March 2, 2023, modifies the enforcement timeline of specific provisions within Circular 61-3.
NOTICE
TO FINANCIAL INSTITUTIONS
The Central Bank of Haiti (BRH) notifies financial institutions that the provisions of Section 2 of Circular 61-3 stipulating that: "Financial institutions whose total balance sheet (on an individual or consolidated basis) exceeds 100 billion gourdes are required to designate two independent auditors, at least one of whom is a firm affiliated with a major international audit group," are postponed for the 2024-2025 fiscal year.
The affected financial institutions will have their annual financial statements audited by an independent auditor at the end of their fiscal year. The mandate of said independent auditor will end at the conclusion of the 2023-2024 fiscal year.
Port-au-Prince, March 2, 2023.
[Signature] Jean Baden Dubois Governor