Regulatory Alerts2017-06-15 | 127047Regulation on Minimum Requirements for External Audit of Banks and Other Non-Bank Financial Credit Organizations Licensed by the National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic issued this regulation to establish minimum requirements for the external audit of banks and other licensed financial credit organizations, aiming to ensure auditor independence and prevent conflicts of interest. The document mandates annual external audits conducted by independent firms registered in the state registry, strictly defining eligibility criteria, rotation limits, and independence standards for audit personnel. It further outlines specific procedures for selecting auditors, auditing banking groups on a consolidated basis, and verifying the accuracy of financial reporting and information security systems.
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