Regulatory Alerts2024-09-01
Circular No. 004 of 2024 on the Approval and Exercise of the Audit Function in Payment Institutions
The regulatory authority issued Circular No. 004 of 2024 to establish the approval criteria and operational framework for audit functions within payment institutions. The directive mandates that qualified auditors must conduct independent financial reviews, maintain strict reporting obligations, and comply with standardized appointment procedures. It further outlines the conditions for suspending or replacing audit officers to guarantee continuous regulatory oversight and financial transparency across the payment sector.
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