Regulatory Alerts2012-07-11 | CD-SIBOIF-736-1-JUL11-2012Added · Updated
Norma sobre Control y Auditoría Interna de Bancos y Sociedades Financieras
This resolution establishes the regulatory framework for internal control and internal audit functions within banks and financial societies supervised by the Superintendence of Banks and Other Financial Institutions. It mandates that financial institutions implement an internal control system and maintain an Internal Audit Unit (UAI) that operates with technical independence under the Board of Directors. The document defines specific responsibilities for the Board of Directors and General Management, outlines the minimum functions and characteristics of the UAI, and sets qualification requirements for the Internal Auditor, including restrictions on recent employment history to prevent conflicts of interest.
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