Regulatory Alerts2022-06-29
Added
Approval of External Auditors for Designated Financial Holding Companies with Licensed Insurer Subsidiaries
The Monetary Authority of Singapore issued Circular No. ID 07/22 to mandate that designated financial holding companies with licensed insurer subsidiaries in Singapore obtain prior approval for their external auditors under the Financial Holding Companies Act 2013. These companies must submit Appendix 1 to detail the proposed auditor and engagement terms, while the signing audit partners are required to complete and submit Appendix 2 containing professional experience and fee information. The circular specifies that applications must be lodged no later than one month before the proposed appointment date and requires a soft copy of Appendix 2 in Excel format.
Topics
Share