Regulatory Alerts2024-09-01
Added · Updated
Circular No. 004 of 2024 on the Approval and Exercise of the Audit Function in Payment Institutions
The Banque de la République du Burundi issued Circular No. 004 of 2024 to regulate the approval, qualifications, and operational conduct of statutory auditors for payment institutions. The regulation mandates a two-year renewable term for auditors, requires specific professional and independence criteria for both individual and corporate auditors, and establishes strict reporting timelines and mandatory alert obligations to the central bank. It further defines the scope of audit work, permissible audit opinions, and a range of disciplinary sanctions for non-compliance.
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