Regulatory Alerts2018-12-06 | CD-SIBOIF-1088-6-DIC6-2018Norm on Internal Control and Internal Audit of Securities Entities
The Superintendence of Banks and Other Financial Institutions issued Resolution No. CD-SIBOIF-1088-6-DIC6-2018 to regulate the internal control and internal audit systems of securities entities in Nicaragua. The resolution mandates that the Board of Directors establish adequate internal controls and an independent Internal Audit Unit (UAI) to ensure operational efficiency, risk management, and regulatory compliance. It further defines the specific qualifications, appointment procedures, responsibilities, and independence requirements for the Internal Auditor to safeguard the integrity of financial reporting and governance.
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