Regulatory Alerts2014-02-14 | CD-SIBOIF-819-1-ENE29-2014Added · Updated
Norm Reforming Article 33 of the External Audit Standard
The Board of Directors of the Superintendence of Banks and Other Financial Institutions amended Article 33 of the External Audit Standard to require financial institutions to include a specific footnote in their published Audited Financial Statements. This footnote must disclose that the reports were known, resolved, and authorized by the Board of Directors and the General Shareholders' Assembly, along with the institution's website address. The regulation mandates that this clarifying note be visible on the institution's website and that complete audited financial reports be kept available online for at least five years. The norm entered into force upon notification on January 29, 2014.
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