BANQUE CENTRALE DU CONGO

THE GOVERNOR

INSTRUCTION N° 19 ON THE EXERCISE OF STATUTORY AUDITOR FUNCTIONS IN CREDIT INSTITUTIONS AND FINANCIAL COMPANIES

(Modification No. 2)

Having regard to Law No. 18/027 of December 13, 2018, on the organization and functioning of the Central Bank, specifically Articles 10, 11, and 25;

Having regard to Law No. 22/069 of December 27, 2022, on the activity and supervision of Credit Institutions, specifically Articles 96 to 107;

Having regard to Law No. 002/2002 of February 2, 2002, on provisions applicable to Savings and Credit Cooperatives, specifically Articles 76 and 77;

Having regard to Law No. 11/020 of September 15, 2011, setting rules regarding the microfinance activity in the Democratic Republic of the Congo, specifically Articles 31 and 32;

Having regard to Law No. 15/003 of February 12, 2015, on leasing activity, specifically Articles 6 and 7;

Having regard to Law No. 15/002 of February 12, 2015, creating and organizing the National Order of Chartered Accountants.

Having regard to the Uniform Act on commercial company law and economic interest groups, Articles 710 to 722;

Enacts the following provisions:

CHAPTER I: OBJECT AND SCOPE

Section 1: Object

Article 1:

This Instruction aims to set specific rules regarding the conditions for the appointment and exercise of statutory auditor functions in Credit Institutions and financial companies.

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Section 2: Scope

Article 2:

This Instruction applies to Credit Institutions and financial companies as defined by Articles 2 and 3 of Law No. 22/069 on the activity and supervision of credit institutions, referred to as "subject establishments."

CHAPTER II: DEFINITIONS

Article 3:

For the purposes of this Instruction, the following terms are understood as:

• audit of financial statements: examination carried out by an independent professional consisting of verifying the financial statements or other financial information of a given entity, with a view to expressing a reasoned opinion intended to inform stakeholders regarding the regularity, sincerity, and fair presentation that these financial statements or information give on the operations of the past fiscal year as well as on the financial position and results of the entity at the end of the fiscal year.

During the conduct of an audit of financial statements, the general objectives of the statutory auditor are to:

• obtain reasonable assurance that the financial statements taken as a whole do not contain material misstatements, whether due to fraud or error, thereby allowing the auditor to formulate an opinion expressing whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework, and;

• produce a report on the financial statements and proceed with communications required by International Standards on Auditing, abbreviated as ISA, based on the conclusions of his work.

• certification work: process of activities by which statutory auditors certify that the annual accounts of an entity are regular, sincere, and give a fair view of the result of the operations of the past accounting year as well as of the financial position, result, and equity of the company at the end of the fiscal year. Regularity refers to the conformity of the accounts with the valuation and presentation rules, while the sincerity of the financial statements refers to loyalty and good faith in the preparation of the accounts;

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- general meeting: supreme body composed of capital contributors, natural or legal persons, namely shareholders, partners, or members, who approve the annual accounts of the establishment;

- deliberative body: body responsible, on behalf of the shareholders, for defining the strategic direction of the establishment and the effective supervision of the management of activities. It is constituted in the form of a board of directors;

- audit committee: Governance committee, emanating from the deliberative body, created to assist it in the exercise of its supervisory missions, notably the evaluation of the quality of the internal control system and the steering of internal audit;

- executive body: Body responsible, on behalf of the deliberative body, for the day-to-day management of the establishment's activities as well as the effective steering of the implementation of the strategic objectives and risk policy set by the deliberative body. It corresponds to the General Management, the Management Committee, the Direction Committee, or the Management;

- irregularity: difference between the amount, classification, presentation, or information provided concerning an element of the financial statements and the amount, classification, presentation, or information provided that is required for that same element in order to be in conformity with the applicable financial reporting framework. Irregularities may result from errors or stem from fraud. In the case where the statutory auditor expresses an opinion that the financial statements are presented fairly in all material respects or give a true and fair view, irregularities also include adjustments of amounts, classifications, presentation, or information provided which, in the judgment of the statutory auditor, are necessary for said statements to be considered fairly presented in all material respects, or to give a true and fair view.

- material irregularity: inaccurate, poorly presented, insufficient, or omitted accounting or financial information, due to errors or fraud, of such importance that, alone or combined with others, it could influence the judgment of the user of this accounting and financial information;

- fraud: any intentional act committed by one or more members of management, by one or more persons constituting the corporate governance, by one or more employees or third parties to the entity, involving deceitful maneuvers with the aim of obtaining an undue or illegal advantage;

- financial statements: the structured presentation of historical financial information, including the notes relating thereto, the purpose of which is to communicate the economic resources or obligations of an entity at a given time, or their variations over a period of time, in accordance with the accounting framework in force or required by the Regulatory and Supervisory Authority. The notes relating thereto generally include a summary of principal accounting methods and other

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explanatory information. The term "financial statements" generally denotes a complete set as defined by the provisions of the applicable accounting framework, but may also mean only one of the components of the financial statements.

- chartered accountant: natural person of Congolese nationality and, if applicable, foreign nationality, practicing independently and registered on the roll of the National Order of Chartered Accountants;

- chartered accounting firm: legal entity of Congolese law practicing independently and registered on the roll of the National Order of Chartered Accountants;

- statutory auditor (SA): a Chartered Accountant or a Chartered Accounting Firm exercising a regulated profession and whose mission is to control the sincerity and regularity of the annual accounts prepared by an entity through a financial audit;

- audit engagement letter: that containing clauses whose conditions for implementation agreed upon between management and the statutory auditor. These conditions are notably the use by management of an acceptable accounting framework for the preparation of the financial statements and the agreement of the latter, if applicable, of the persons constituting the corporate governance to carry out said audit. The statutory auditor accepts to pursue an audit mission only if these preliminary conditions are met and there is a mutual understanding between him and the management of the subject establishment and, if applicable, the persons constituting the corporate governance.

- IFRS standards: international financial reporting standards published by the IASB;

- ISA: international auditing standards;

- ONEC: National Order of Chartered Accountants in the Democratic Republic of the Congo.

CHAPTER III: PROCESS FOR THE APPOINTMENT OF STATUTORY AUDITORS

Section 1: Process for the authorization of statutory auditors

Article 4:

Chartered accountants, legal persons or natural persons, approved in accordance with the legislation applicable to them, must be authorized by the Central Bank of Congo to practice as statutory auditors of subject establishments.

Article 5:

The request for authorization letter is addressed in French to the Governor of the Central Bank of Congo and must be accompanied by a file consisting of the following documents:

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- proof of registration on the list of the National Order of Chartered Accountants of the Democratic Republic of the Congo;
- description of the organization;
- proof of a minimum experience of five (5) years in audit in general, and in banking and/or financial sector audit in particular;
- dedicated human resources as well as technical and material means;
- curricula vitae, duly dated and signed, of the applicant and each of his collaborators likely to take part in the control work;
- a sworn declaration conforming to the models attached in annexes I and II, dated and signed by the applicant natural person or the statutory representative of the legal person by which the signatory attests that neither he nor his collaborators fall under the incompatibilities provided for in article 17 of law 22/069 of December 27, 2023;
- a information sheet, conforming to the model attached in annex III, duly signed by the statutory representative of the company;
- a certified copy of the updated statutes for legal persons.

Article 6:

Chartered accountants admitted as statutory auditors of subject establishments are registered on a list kept up to date by the Central Bank of Congo and/or published in the Official Journal of the Democratic Republic of the Congo.

Section 2: Process for the appointment of statutory auditors

Article 7:

Subject establishments designate as statutory auditor either a legal person or two natural persons from those registered on the list of the Central Bank of Congo.

Subject establishments having the legal form of a public limited company are required to have as statutory auditor holder, either a legal person or two natural persons. They must also have as alternate statutory auditor, either a legal person or two natural persons.

The statutory auditor holders and the alternate statutory auditors must not have any interest or subordination link between them.

Article 8:

Statutory auditors, holders and alternates, are designated by the General Meeting of shareholders, partners, or members, on the proposal of the deliberative body of the subject establishment.

For subject establishments not having a deliberative body, the statutory auditor is designated by the General Meeting of shareholders, partners, or members alone.

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Article 9:

The deliberative body, through its audit committee, relies on the following criteria during the appointment or renewal of the mandate of statutory auditors:

- independence;
- professionalism;
- the terms of the draft contract to be concluded with the subject establishment;
- the proposal of fees.

Article 10:

Subject establishments which, under their specific regulation, are required to publish financial statements meeting IFRS standards, must ensure to conclude a mandate with a statutory auditor possessing the appropriate expertise allowing him to rigorously review the accounting operations, in accordance with the financial information standards applicable to the financial sector, in compliance with the professional standards relating to statutory auditors.

Article 11:

Subject establishments are required to inform the Central Bank of Congo of the decision to appoint statutory auditors by transmitting the copy of the duly notarized minutes of the General Meeting.

The Central Bank of Congo may oppose any appointment of a statutory auditor due to the incompatibilities provided for in Chapter 6 of this Instruction.

Article 12:

The duration of the mandate of statutory auditors is three (3) fiscal years, renewable once.

Except in case of resignation, the mandate of a statutory auditor may not be terminated except upon prior injunction or authorization of the Central Bank of Congo for incompetence, gross negligence, or immorality. In the latter case, the audit committee is consulted prior to any potential revocation of the statutory auditors.

Article 13:

At least six months before the expiration of the mandate of a statutory auditor, the subject establishment informs the Central Bank of Congo/Direction in charge of Approvals and Regulation of its decision to renew the mandate or to appoint another statutory auditor.

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In this case, the subject establishment must transmit, without delay, to the Central Bank of Congo the copy of the notarized minutes of the Ordinary General Meeting.

Within thirty (30) working days, the Central Bank of Congo informs the subject establishment of its lack of opposition, or otherwise of its request to call upon another statutory auditor, given the requirements provided for in this Instruction, for the exercise of the functions of statutory auditors.

CHAPTER IV: MISSION OF THE STATUTORY AUDITOR

Article 14:

The main mission of the statutory auditor of a subject establishment consists of certifying the publishable financial statements, in conformity with the specific accounting framework for subject establishments, international auditing standards, abbreviated as ISA, or if applicable, international financial reporting standards in force.

Article 15:

The statutory auditor must certify the regularity and sincerity of the financial statements by attesting that the end-of-year accounts give a fair view of the operations carried out during the year, the financial position, the assets, liabilities, and off-balance sheet commitments of the subject establishment.

The statutory auditor prepares a detailed report in which are recorded notably:

- his assessment of the organization and governance of the establishment and the quality of its identification, measurement, supervision, control, and risk reduction systems;

- his assessment of the adequacy and efficiency of the internal control and compliance system of the subject establishment, given the characteristics of the establishment, the nature of the activities carried out, and the risks incurred;

- his assessment of the anti-money laundering and counter-terrorist financing and proliferation system as well as on IT security;

- his opinion on the control of risks inherent to outsourced essential services, in accordance with the provisions of the Central Bank of Congo relating to risk management;

- his observations on any irregularities found during his investigations in the various areas verified, notably those concerning:

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- internal control, compliance, and risk management systems and devices;

- compliance with prudential management standards, particularly those relating to solvency, liquidity, concentration as well as classification and provisioning of loans;

- compliance with accounting and prudential principles;

- his reservations and/or refusal of certification.

Article 16:

The statutory auditor's engagement letter must include notably:

- the verification and certification procedures to be carried out regarding the financial statements, internal control, and risks;

- the responsibilities of the statutory auditor;

- the responsibilities of the executive body;

- the indication of the applicable accounting framework for the preparation of the financial statements;

- the indication of the form and content envisaged for all reports to be issued by the auditor;

- the specification of the form of the report established by the statutory auditor and the expected information elements;

- the format of the attestation regarding the conformity of the accounting framework applied by the subject establishment with that in force in the Democratic Republic of the Congo;

- the extent and depth of the controls to be carried out, notably the sampling of commitments to be examined;

- the format of the issuance of the opinion on the sincerity and regularity of the accounts.

Article 17:

The statutory auditor assesses, within the framework of his mission, the quality of the internal control system implemented by the subject establishment, notably:

- the system put in place to:
  • prevent and control all significant risks, including fraud and other operational risks;

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- ensure compliance with the regulation applicable to financial operations, in particular the law relating to the fight against money laundering and the financing of terrorism;
- the effectiveness of the security system of the accounting information system, notably the reliability of the recording of operations and the audit trail, as well as the quality of accounting procedures and their control.

Article 18:

The statutory auditor must ensure that the subject establishment presents a situation conforming to the requirements of the Central Bank of Congo relating to prudential management standards, regarding notably:
- prudential own funds;
- solvency;
- risk division;
- exchange positions;
- liquidity and transformation;
- limitation of participations;
- limitation of transactions with related parties.

The statutory auditor must also ensure that the practices of the subject establishment regarding the classification and provisioning of loans are in conformity with the relevant prescriptions of the Central Bank of Congo.

The statutory auditor must furthermore ensure the effective implementation of a business continuity plan.

Article 19:

The Central Bank of Congo may request the statutory auditor of a subject establishment, at the latter's expense, to perform any additional diligence it deems necessary to assess the financial situation of said establishment.

CHAPTER V: GOVERNANCE OF RELATIONS WITH THE STATUTORY AUDITOR

Article 20:

When the mandate of statutory auditor of a subject establishment is exercised by a legal person, the signature certifying the annual accounts can only be affixed by a partner, natural person, authorized, in a personal capacity, to exercise the functions of statutory auditor by the Central Bank of Congo and consequently listed on the relevant list in accordance with this Instruction.

This partner engages the liability of the statutory auditor.

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Article 21:

To ensure the quality of the review carried out by the statutory auditor according to the size and risk profile of the subject establishment, the deliberative body, supported by the audit committee, must:
- be informed of the objectives and work plan of the statutory auditor;
- supervise and facilitate the execution of his duties;
- evaluate the findings noted in the report of the statutory auditor to whom he is the recipient;
- adopt the necessary and appropriate corrective measures;
- carry out annually or every two (2) years, a documented evaluation of the quality of the services provided by the statutory auditors;
- evaluate the reasonableness of his fees.

CHAPTER VI: INCOMPATIBILITIES

Article 22:

The statutory auditor natural person, including his employer if applicable, and the statutory auditor legal person, including the partners and the members of the mission team, are subject to the incompatibilities provided for by the legal provisions relating to the exercise of the profession of Chartered Accountant.

Article 23:

When the Statutory Auditor natural person, including his employer if applicable and the Statutory Auditor legal person as well as its partners and the members of the mission team, are clients in any capacity whatsoever of the subject establishment that they are charged with controlling, all operations of the latter with said Statutory Auditors, subsequent to the date of signature of the mandate, must:
- be limited to deposits and other transactions carried out from these latter;
- be carried out under usual market conditions;
- no longer concern new credits, nor the renewal of facilities;
- be subject to the approval of the deliberative body on the advice of the Audit Committee.

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Twelve (12) months before the expected effective date of the contract between a regulated establishment and a statutory auditor who is a natural or legal person, as well as the other related parties mentioned in the first subparagraph of this article, these parties may not obtain a credit from the same regulated establishment.

Article 24:

Statutory auditors, including partners for legal persons, who have exercised the function of statutory auditor in a regulated establishment may not be invested with any function within said establishment before a period of five (5) years has elapsed after the end of their mandate.

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CENTRAL BANK OF CONGO

CONTINUATION, PAGE 11

Article 25:

Statutory auditors may not perform, within the regulated establishments for which they have been appointed, any mission other than that related to the certification of accounts. It is specifically prohibited to carry out, directly or indirectly through a related person, any consulting activity, remunerated or not, that does not strictly fall within the scope of the exercise of their mandate and in compliance with the rules applicable to their profession.

Article 26:

The statutory auditors of regulated establishments may not find themselves in a situation of conflict of interest with the Central Bank of Congo.

Article 27:

In the event that the statutory auditor calls upon experts who are not part of their staff to perform occasional work within the framework of their mission, they are required to ensure that these persons do not violate the provisions regarding incompatibilities provided for by legal and regulatory provisions.

CHAPTER VII: RIGHTS AND OBLIGATIONS OF STATUTORY AUDITORS

Article 28:

Under penalty of being sanctioned by the Central Bank of Congo, regulated establishments are required to respect the rights recognized to statutory auditors in accordance with the legal and regulatory provisions in this matter.

Article 29:

The statutory auditor is required to bring to the knowledge of the deliberating body via the audit committee and the executive body of the regulated establishment, upon their discovery:
- significant deficiencies identified in the internal control system;
- significant anomalies detected in the accounting or financial statements, and;
- omissions of significant information for the proper appreciation of the financial situation and results.

Article 30:

The statutory auditor of a regulated establishment is required to alert the Central Bank of Congo directly and without delay, by all legal means, as soon as they observe in the exercise of their mission any fact:

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CENTRAL BANK OF CONGO

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- which, in the course of the annual accounts certification mission, would be of a nature to lead them to (i) issue a reservation in their report, when this reservation could not be lifted after discussion with the regulated establishment, (ii) refuse to certify the accounts;
- of a nature to significantly and negatively influence the financial situation of the regulated establishment, including relating to administrative and accounting organization, internal control, and risk management;
- likely to constitute a violation of laws and instructions of a nature to seriously call into question the responsibility of the regulated establishment or its management;
- of a nature to compromise the going concern of the regulated establishment.

When the statutory auditor exercises their duty to alert, they immediately transmit to the Central Bank of Congo the correspondence and other documents relating to this procedure with simultaneous information to the deliberating and executive bodies.

The responsibility of the statutory auditor cannot be engaged when they exercise in good faith their duty to alert provided for in this Instruction.

Article 31:

The statutory auditor communicates directly to the Central Bank of Congo any report, including the annual certification report of the accounts, that they address to the deliberating and executive bodies of the regulated establishment, bearing their signature and seal which guarantee the authentic and definitive character of said report.

The report relating to the certification of the annual accounts of the establishment, dated and signed by the statutory auditor, must be sent by the latter to the Central Bank of Congo fifteen days before the closing of the accounting period.

Article 32:

The statutory auditor responds, without delay, to any summons from the Central Bank of Congo to communicate any required information on the financial or prudential situation of the regulated establishment for which they ensure the certification of accounts.

The Central Bank of Congo has a general right of access and verification to the files of the statutory auditor constituted during the certification of annual accounts.

Professional secrecy cannot be opposed to the Central Bank of Congo in this regard.

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CENTRAL BANK OF CONGO                                                                 CONTINUATION, PAGE 13

Article 33:

If during their mission, the statutory auditor of the regulated establishment is subject to any disciplinary sanction, they must immediately inform the Central Bank of Congo and the deliberating and executive bodies.

CHAPTER VIII: PROFESSIONAL SECRECY

Article 34:

Professional secrecy is not opposable to the statutory auditor in the exercise of their mission.

They have a permanent right of access to the regulated establishment to perform any verification and control they deem appropriate.

The regulated establishment is required to make available to the statutory auditor all documents and information that the latter deems necessary for the accomplishment of their mission.

CHAPTER IX: MISCELLANEOUS PROVISIONS

Article 35:

The regulated establishment is required to transmit to the Central Bank of Congo, upon its request and within the deadlines it sets, an action plan approved by the deliberating body in which the measures taken and those it intends to implement to remedy the deficiencies, errors, and insufficiencies identified by the statutory auditors are detailed.

Article 36:

The Central Bank of Congo reserves the right to report to the Public Prosecutor:

- any person who, either in their own name or as a partner of a statutory audit firm, has knowingly accepted, exercised, or retained functions as a statutory auditor for regulated establishments, despite legal incompatibilities;

- any statutory auditor who, either in their own name or as a partner of a statutory audit firm, has knowingly given or confirmed false information on the situation of a regulated establishment or who has not revealed criminal facts of which they had knowledge.

The Central Bank of Congo reserves the right to publish any decision it has pronounced against a statutory auditor.

MQA

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CENTRAL BANK OF CONGO                                                                 CONTINUATION, PAGE 14

CHAPTER X: FINAL PROVISIONS

Article 37:

Regulated establishments are required to respect the provisions of this Instruction.

Article 38:

In the event of non-compliance with legislative or regulatory provisions applicable to statutory auditors, or failure to meet professional obligations, the Central Bank of Congo may impose the following sanctions on a statutory auditor:

- warning;
- reprimand;
- suspension of authorization;
- withdrawal of authorization.

As necessary, it informs the National Order of Chartered Accountants.

Article 39:

This Instruction enters into force on the date of its signature and repeals all previous provisions contrary to it.

Made in Kinshasa, on 04 JUL. 2023

MALANGU KABEDI MBUYI
Governor

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CENTRAL BANK OF CONGO                                                                 CONTINUATION, PAGE 15

ANNEX I
DECLARATION ON HONOR

I, the undersigned, XXXXXXXXX, chartered accountant practicing independently, declare on my honor:

- not being a founder, contributor in kind or capital or beneficiary of special benefits, nor a member of an administration, supervision, or management body of the credit institution XXXXXXXXXX or one of its subsidiaries;

- not being a spouse, nor a relative or ally up to the 2nd degree exclusively of the persons holding the functions mentioned above within XXXXXXXXXX or one of its subsidiaries;

- not receiving from the persons mentioned in the first subparagraph nor from XXXXXXXXXX; or one of its subsidiaries any remuneration or fee by reason of function, such as consulting or advisory services likely to impair their independence;

- that none of my partners and collaborators participating in the audit mission of the credit institution XXXXXXXXXX are in one of the aforementioned situations;

- not being subject to the incompatibilities provided for by Article 53 of Law No. 15/002 of February 12, 2015 on the creation and organization of the National Order of Chartered Accountants, Articles 15 and 53 of Law No. 003/2002 of February 02, 2002 on the activity and control of Credit Institutions, and this instruction.

Furthermore, and in the event of the occurrence during the mandate of one of the causes of incompatibility mentioned above, I commit to immediately terminate my functions within the credit institution XXXXXXXXXX or, if necessary, that of the concerned collaborator and to inform in writing and within a maximum period of 15 calendar days from the date of incompatibility, the Board of Directors or the Management Committee of the credit institution as well as the Central Bank of Congo, Direction of the Supervision of Financial Intermediaries.

Made at xxxxxxxxxx, on

Mr. XXXXXXXXXXXXXXXX
Chartered Accountant

MQA

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CENTRAL BANK OF CONGO                                                                 CONTINUATION, PAGE 16

# ANNEX II
## DECLARATION ON HONOR

I, the undersigned, XXXXXXXX, partner of the chartered accounting firm XXXXXXXXX, declare on my honor:

- not being a founder, contributor in kind or capital or beneficiary of special benefits, nor a member of an administration, supervision, or management body of the credit institution XXXXXXXXX or one of its subsidiaries;

- not being a spouse, nor a relative or ally up to the 2nd degree exclusively of the persons holding the functions mentioned above within XXXXXXXXX or one of its subsidiaries;

- not receiving from the persons mentioned in the first subparagraph nor from XXXXXXXXX; or one of its subsidiaries any remuneration or fee by reason of function, such as consulting or advisory services likely to impair their independence;

- that none of my partners, salaried chartered accountants, and collaborators participating in the audit mission of the credit institution XXXXXXXXX are in one of the aforementioned situations;

- not being subject to the incompatibilities provided for by Article 53 of Law No. 15/002 of February 12, 2015 on the creation and organization of the National Order of Chartered Accountants, Articles 15 and 53 of Law No. 003/2002 of February 02, 2002 on the activity and control of Credit Institutions, and this instruction.

Furthermore, and in the event of the occurrence during the mandate of one of the causes of incompatibility mentioned above, I commit to immediately terminate my functions within the credit institution XXXXXXXXX or, if necessary, that of the concerned collaborator and to inform in writing and within a maximum period of 15 calendar days from the date of incompatibility, the Board of Directors or the Management Committee of the credit institution as well as the Central Bank of Congo, Direction of the Supervision of Financial Intermediaries.

Made at xxxxxxx, on

Madam, Mr. XXXXXXXXXXXXXXXX
Partner
*MCM*

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CENTRAL BANK OF CONGO                                                                 CONTINUATION, PAGE 17

# ANNEX III
## STATUTORY AUDITOR INFORMATION SHEET
*(Legal Person)*

### I. Identification Elements
- Company Name:
- Registered Office Address:
- Corporate Purpose:
- RCCM Number:
- National ID Number:
- Tax Number:

### II. Shareholding Composition:
- Mr. ... (indicate identity and address);
- Mr. ... (indicate identity and address).

### III. Amount of Share Capital:

### IV. Distribution of Share Capital:

| Shareholder | Nationality of Shareholder | Contribution Made and Nature | Share of Share Capital Held |
|-------------|----------------------------|------------------------------|-----------------------------|
|             |                            |                              |                             |

Made at xxxxxxx, on xxxxxxxx

For the chartered accounting firm

*MCM*

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