Regulatory Alerts2018-12-01 | 24044Added · Updated
Code of Practice for Engagement with External Auditors of Financial Institutions
The Central Bank of Trinidad and Tobago establishes a Code of Practice governing the relationship and communication between regulators and external auditors of financial institutions. The document mandates direct reporting of material issues from auditors to the regulator, requires bilateral and trilateral meetings, and outlines specific legislative obligations for auditors under the Financial Institutions Act and Insurance Act. It applies primarily to domestic systemically important financial institutions and other regulated entities on a risk basis.
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