Regulatory Alerts2020-01-01
Minimum Requirements for the Conduct of External Audits of Licensed Financial Institutions in Fiji
The Reserve Bank of Fiji issued this revised policy to establish minimum standards for the appointment, independence, and performance of external auditors for licensed financial institutions. It mandates that boards oversee audit functions, ensures auditors possess specific banking expertise, and requires mandatory auditor rotation every five years. The document further defines obligations for trilateral meetings, information disclosure, and the submission of audit reports to support prudential supervision.
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