Regulatory Alerts2011-12-30
Regulation (NAP) - Basic Accounting and Auditing Standards for Commercial Banks
The Central Bank of São Tomé and Príncipe issued this Permanent Application Standard (NAP) to establish the basic accounting and auditing standards for commercial banks. It mandates that bank accounting must follow the Chart of Accounts for Financial Institutions (PCIF) and align with current financial market requirements, while requiring all other accounting and auditing procedures to comply with existing internal control regulations. The regulation formally revokes the previous January 10, 2002 standard and takes effect according to statutory provisions.
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