Regulatory Alerts2018-12-06 | CD-SIBOIF-1088-5-DIC6-2018Norm Reforming Articles 1, 5, and Annex of the Standard on Internal Control and Internal Audit of General Warehouses
The Board of Directors of the Superintendence of Banks and Other Financial Institutions issued Resolution No. CD-SIBOIF-1088-5-DIC6-2018 to reform the Internal Control and Internal Audit Standard for General Warehouses. The resolution updates Article 1 definitions and Article 5 policies to align with the new accounting framework based on International Financial Reporting Standards (IFRS) and prudential regulations. It also revises the Annex to specify detailed programmed audit activities for various financial and operational asset categories.
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