Regulatory Alerts2026-04-17
Standard on Internal Control for Credit Savings Cooperatives (CEC)
The Banque de la République d’Haïti (BRH) mandates that Credit Savings Cooperatives (CECs) implement a comprehensive internal control framework tailored to their size, activities, and risk exposure. The regulation requires CECs with assets over 50 million gourdes to appoint an independent internal auditor reporting directly to the Board, establish robust accounting and documentation retention procedures, and conduct quarterly commitment quality analyses and annual profitability assessments. Furthermore, it stipulates that the Board must annually review control activities, submit detailed reports to the BRH within two months of fiscal year-end, and face administrative sanctions for non-compliance.
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