Regulatory Alerts2016-04-28
Regulation on the External Audit of Insurers, Insurance Intermediaries, Claim Handlers and the Kosovo Insurance Bureau
The Central Bank of the Republic of Kosovo issued this regulation to establish approval criteria, operational requirements, and oversight mechanisms for external auditors examining insurers, insurance intermediaries, claim handlers, and the Kosovo Insurance Bureau. The framework mandates that auditors demonstrate licensing, independence, and professional competence while conducting annual audits aligned with International Financial Reporting Standards and assessing liquidity, market, and operational risks. Furthermore, the regulation enforces a public registry, limits audit tenure to five consecutive years, requires professional liability insurance, and grants the CBK authority to demand re-audits or report material non-compliances directly.