RegAlert2024-07-16 | NBB_2024_12Added
Accreditation of auditors and audit firms and duty of cooperation of accredited statutory auditors
This circular establishes prudential expectations for accredited auditors and audit firms regarding the grant, renewal, and withdrawal of accreditation, as well as their duty of cooperation with the supervisory authority. It defines specific reporting obligations, including auditor’s reports on periodic prudential returns, internal control assessments, and special mechanisms, for credit institutions, stockbroking firms, payment institutions, electronic money institutions, central securities depositories, holding companies, and insurance or reinsurance companies. The document sets deadlines for the submission of these reports and outlines interaction protocols, such as early warning functions, between the supervisory authority and accredited statutory auditors. It repeals and replaces Circular NBB_2017_20, becoming effective on 31 December 2024.
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NBB_2024_12 - 16 July 2024 Circular - Page 1/53 14 Boulevard de Berlaimont - 1000 Brussels +32 2 221 38 12 Company number: 0203.201.340 Brussels RLE www.nbb.be Circular Brussels, 16 July 2024 Reference: NBB_2024_12 Your correspondents:
Michel Colinet / Claude Louckx
+32 2 221 37 17 / 49 63 michel.colinet@nbb.be / claude.louckx@nbb.be Accreditation of auditors and audit firms and duty of cooperation of accredited statutory auditors Scope of application Accredited auditors and accredited audit firms with a view to performance of their duty of cooperation for the following types of financial institutions:
- credit institutions governed by Belgian law;
- stockbroking firms governed by Belgian law;
- payment institutions governed by Belgian law;
- payment institutions of limited size governed by Belgian law;
- electronic money institutions governed by Belgian law
- electronic money institutions of limited size governed by Belgian law;
- central securities depositories, institutions providing support to central securities depositories and
custodian banks governed by Belgian law; - branches established in Belgium of credit institutions and stockbroking firms governed by the law of
another European Economic Area (EEA) country; - branches established in Belgium of credit institutions and stockbroking firms governed by the law of
a non-EEA country; - central securities depositories, institutions providing support to central securities depositories and
custodian banks established in Belgium as branches of foreign institutions; - authorised and designated financial holding companies and mixed financial holding companies
governed by Belgian law; - investment holding companies and mixed financial holding companies governed by Belgian law
included in the scope of supervision on a consolidated basis or review of the capitalisation test of a group of investment firms carried out by the National Bank of Belgium; - insurance or reinsurance companies governed by Belgian law;
- branches established in Belgium of insurance or reinsurance companies governed by the law of a
non-EEA country; n1 BanqueNationaleBank DE BELGIQUE VAN BELGIE Eurosystem
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Source: National Bank of Belgium — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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