Regulatory Alerts2022-06-29
Added · Updated
Notice FHC-N615 on Appointment of Auditors
Designated financial holding companies with a bank subsidiary in Singapore are prohibited from reappointing an auditor who has served for 10 or more consecutive financial years following the last public tender, unless a new public tender is conducted. These entities must also maintain a robust process for considering auditor appointment, reappointment, and removal that accounts for the auditor's knowledge, independence, competence, and effectiveness. This notice takes effect on 1 July 2022.
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