Regulatory Alerts2010-05-21
Publication of Audited Accounts in Local Newspapers
The Central Bank of Seychelles mandates that all financial institutions publish their audited balance sheets, profit and loss accounts, and auditor reports in daily local newspapers within five months after each calendar year ends. Issued under Section 38(2) of the Financial Institution Act (FIA), 2004, this directive clarifies that displaying directors' signatures on these published accounts is no longer compulsory. Banks must adhere to the five-month publication window while retaining discretion over signature disclosure.
# CENTRAL BANK OF SEYCHELLES
P. O. Box 701, Victoria, Seychelles
---
**Telephone:** [+248] 282 000
**Fax:** [+248] 323 665
**E-mail:** enquiries@cbs.sc
**Ref:** FSS/BK/ACC/22
**Date:** May 6<sup>th</sup>, 2010
---
## TO ALL BANKS
### Publication of Audited Accounts in Local Newspaper
We refer to the above.
Section 38 (2) of the Financial Institution Act (FIA), 2004 as amended amongst other things, requires financial institutions to publish in the daily local newspaper within 5 months after the end of the calendar year its balance sheet and profit and loss account and any report made by the auditor under section 36 of the FIA.
In view of such, please be advised that the disclosure of directors’ signature when publishing Audited Accounts in the local newspapers is not mandatory.
---
**J.M. Morel (Ms)**
Deputy Governor
Share