Regulatory Alerts2023-07-04
Added · Updated
Instruction No. 19 (Modification No. 2) on the Exercise of Statutory Auditor Functions in Credit Institutions and Financial Companies
This Instruction establishes the specific rules for the appointment, qualifications, and exercise of statutory auditor functions in credit institutions and financial companies in the Democratic Republic of the Congo. It mandates that auditors be authorized by the Central Bank of Congo, designates them via the General Assembly based on the supervisory board's proposal, and sets a three-year renewable term. The document defines the auditor's mission to certify financial statements, assess internal controls and prudential compliance, and outlines strict incompatibility rules regarding conflicts of interest between auditors and the supervised entities.
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