Regulatory Alerts2019-06-26
Relationship Between External Auditors and the Central Bank
The Central Bank of The Bahamas clarifies that external auditors must immediately notify the Inspector when scope limitations, obstacles, or information difficulties impact a licensee's audit report. The Bank requires these notifications to be submitted annually for completeness, even if the issues were previously documented in earlier financial statements. Auditors should determine material significance by referencing regulatory breaches, licensing conditions, and supervisory assessments as outlined in the 2011 Regulations.
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