Regulatory Alerts2025-01-01 | JPRFM-2025-017-GResolution JPRFM-2025-017-G: Replacing Chapter II "Regulations of the Audit Committee of the Central Bank of Ecuador"
The Financial and Monetary Policy and Regulation Board issued Resolution JPRFM-2025-017-G to replace the regulations governing the Audit Committee of the Central Bank of Ecuador, aligning them with the new Organic Law of the Monetary and Financial Code. The resolution establishes the committee's composition, requiring three full-time members with at least ten years of relevant accounting or auditing experience, and defines their two-year renewable terms. It further details the committee's advisory role, specific functions regarding financial statements and internal audit oversight, and the strict eligibility and termination criteria for its members.
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