Regulatory Alerts2022-01-01 | JPRF-V-2022-033JPRF-V-2022-033 - Harmonization of External Auditor Chapter Provisions Regarding Services to the Same Audited Entity in the Securities Market Sector
The Financial Policy and Regulation Board (JPRF) issued Resolution JPRF-V-2022-033 to harmonize regulations for external auditors in the securities and insurance sectors with those of the financial sector. The resolution replaces Article 17 of the Securities Market Book to limit external audit service periods to three consecutive years and mandate a one-year cooling-off period before providing any other services to the audited entity. It further grants the Superintendency the authority to terminate audit contracts and prohibits auditors from offering non-audit services to entities they served in the previous year.
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