Regulatory Alerts2010-01-01
Financial Institutions (External Auditors) Regulations, 2010
Issued by the Central Bank of Uganda, these regulations establish comprehensive requirements for appointing, approving, and disqualifying external auditors across all Ugandan financial institutions. The framework mandates auditor selection from a pre-qualified list, limits continuous service to four years, and requires the timely submission and newspaper publication of audited financial statements within three to four months of year-end. Non-compliance triggers daily civil penalties and empowers the Central Bank to impose administrative sanctions or remove auditors who breach independence, reporting, or professional standards.
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