Regulatory Alerts2018-12-27
Regulation on the External Audit of Non-Bank Financial Institutions
The Central Bank of Kosovo’s Board approved this Regulation to establish a comprehensive framework governing the external audit of non-bank financial institutions (NBFIs). It mandates that external auditors obtain CBK approval, maintain strict independence and professional ethics, conduct audits under International Standards on Auditing and IFRS, and submit detailed annual reports alongside management letters. The CBK enforces compliance through mandatory quality assurance reviews and retains direct enforcement powers, including issuing warnings, suspending approvals for up to three years, mandating re-audits, and revoking licenses when statutory criteria are breached.
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