CMN Resolution No. 4,910 — Provisions on the Provision of Independent Audit Services for Financial Institutions and Other Institutions Authorized by the Central Bank of Brazil

CMN Resolution No. 4,910 mandates that financial institutions and other entities authorized by the Central Bank of Brazil must have their annual, semi-annual, and interim financial statements audited by independent auditors registered with the Securities and Exchange Commission. The regulation prohibits the engagement of auditors where independence is compromised by financial interests, management roles, or significant fee dependencies, and requires the periodic rotation of audit team members every five years with a mandatory three-year cooling-off period. Institutions meeting specific criteria, such as being publicly traded companies or leaders of prudential conglomerates, must establish a statutory Audit Committee responsible for overseeing financial reporting, internal controls, and the independence of both independent and internal auditors.

BCB published 15 documents in the last 30 days — get each new one by email the day it lands.

RESOLUTION

CMN NO. 4,910, OF MAY 27, 2021

Provisions on the provision of independent audit services for financial institutions and other institutions authorized to operate by the Central Bank of Brazil.

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the National Monetary Council, in a session held on May 27, 2021, based on Articles 4, items VIII and XII, and 10, item XI, of the aforementioned Law,

R E S O L V E D:

CHAPTER I
OBJECT AND SCOPE OF APPLICATION

Read the rest free, and get an email when BCB publishes again

Email me when BCB publishes something newOne email per publication, same day. Sign in below to keep reading.

Lineage: Amended

amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Timeline

Amended 2 times · last 2024-01-25

Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works