Regulatory Alerts2022-01-01 | JPRM-2022-006-GJPRM-2022-006-G — Regulation for the Hiring of External Auditors
The Monetary Policy and Regulation Board of Ecuador issued Resolution JPRM-2022-006-G to establish the regulatory framework for hiring external auditors for the Central Bank of Ecuador. The regulation mandates a three-year contract term with a single renewal option, requiring auditors to meet strict international experience and independence criteria while prohibiting conflicts of interest. It further details a competitive selection process weighted 80% on technical merit and 20% on cost, and specifies the scope, timing, and content of mandatory audit reports.
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