Regulatory Alerts2017-01-31
Added · Updated
Guidelines on facilitating an effective dialogue between competent authorities supervising insurance undertakings and statutory auditors and audit firms
EIOPA, in cooperation with the EBA, has issued principle-based guidelines requiring competent authorities supervising insurance and reinsurance undertakings to establish effective, risk-based dialogue with statutory auditors and audit firms. The guidelines mandate that authorities exchange relevant undertaking-specific and industry-wide information through flexible communication channels, maintain strict confidentiality, and schedule regular or ad hoc meetings proportionate to risk profiles. Authorities must integrate these principles into their supervisory frameworks, preserve the supervised undertaking as the primary information source, and report compliance to EIOPA within two months of issuance.
More like this from HANFA
HANFA published 2 documents in the last 30 days. We email you each new one the day it's published.