Regulatory Alerts2024-10-23 | 24045Added · Updated
Code of Practice for Engagement with External Auditors of Financial Institutions
The Central Bank of Trinidad and Tobago establishes a Code of Practice to define the relationship, communication channels, and information-sharing responsibilities between the regulator and external auditors of financial institutions. The Code mandates direct reporting of material audit findings, facilitates regular exchanges on systemic risks, and enables bilateral or trilateral meetings. This framework applies primarily to systemically important banks, insurance companies, and their financial holding companies, though it may be extended to any financial institution.
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