Regulatory Alerts2012-12-25
Central Bank of Djibouti Circular No. 03/BCD/2012 on the Annual Internal Control Report
The Central Bank of Djibouti issued Circular No. 03/BCD/2012 to standardize the preparation and submission of annual internal control reports by financial establishments. The circular mandates detailed disclosures across ten articles, covering the definition and organization of internal control frameworks, risk mapping, procedures for permanent and periodic audits, outsourced activities, accounting and prudential compliance, director and shareholder transactions, fraud tracking, and corrective action monitoring. Establishments must compile these elements into a comprehensive report and submit it to the Central Bank no later than April 30 following each fiscal year.
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