Regulatory Alerts2019-11-29
Regulation on Internal Controls and Internal Audit of Non-Bank Financial Institutions
The Central Bank of the Republic of Kosovo issued this Regulation to establish comprehensive internal control and internal audit requirements for non-bank financial institutions (NBFIs). It mandates that NBFIs implement robust internal control systems covering risk assessment, activity controls, information flow, and monitoring, while ensuring the independence, competence, and continuous oversight of their internal audit functions. The Regulation further outlines specific governance duties for boards and senior management, defines the scope and charter of internal audit functions (including contracted services), and establishes enforcement measures for non-compliance.
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