Regulatory Alerts2026-04-17
Standard on External Audit of Savings and Credit Cooperatives
The Banque de la République d’Haïti (BRH) issues a binding standard mandating that all Savings and Credit Cooperatives (SCCs) undergo external audits by certified firms or accountants listed with the OCPAH. The regulation requires auditors to conduct tests in line with international standards, verify specific financial statement components including detailed credit portfolio aging and subsidy classifications, and explicitly report internal control weaknesses, restructuring progress, and solvency assessments to the BRH and SCC management. Furthermore, it establishes strict procedural timelines for audit reporting, mandates immediate notification of fraud or regulatory violations, and authorizes the BRH to appoint an auditor at the cooperative's expense if compliance fails.