Regulatory Alerts2017-06-15 | 122491Regulation on Minimum Requirements for External Audit of Banks and Other Non-Bank Financial Credit Organizations Licensed by the National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic issued this regulation to establish minimum requirements for the external audit of banks and other licensed financial credit organizations, ensuring auditor independence and effective risk management. The document mandates annual audits by qualified, independent firms, defines strict eligibility criteria for auditors and audit teams, and outlines procedures for auditor selection, rotation, and reporting to the regulator. It further specifies detailed audit scopes for financial statements and information security, including consolidated group audits and specific compliance checks against international standards and local legislation.
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