Regulatory Alerts2024-01-01 | JPRM-2024-012-MJPRM-2024-012-M — Reforming the Internal Audit Policy of the Central Bank of Ecuador
The Monetary and Regulatory Policy Board of Ecuador issued Resolution JPRM-2024-012-M to reform the Internal Audit Policy of the Central Bank of Ecuador by establishing strict eligibility criteria for the Bank Audit Director. The resolution mandates a rigorous selection process overseen by the Audit Committee, requiring candidates to possess specific professional qualifications, extensive audit experience, and clean legal and financial records. Additionally, it prohibits the Bank Audit Director from holding other positions within the Central Bank or external institutions, with the exception of part-time teaching, to ensure independence and integrity.
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