Regulatory Alerts2023-12-04
Notice No. 12/2023 of 04 December
The National Bank of Angola issued Notice No. 12/2023 to establish comprehensive requirements for external audit services provided to supervised financial institutions and shareholding management companies. The regulation mandates annual or semi-annual audit frequencies, defines strict independence and conflict-of-interest prohibitions, and outlines detailed engagement, reporting, and replacement procedures for external auditors. It further imposes rigorous qualification standards, mandates direct reporting of material findings to the regulator, and assigns cost-bearing responsibilities to institutions under specific audit triggers.
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