2018-04-26 | DOF 5520808Added
The resolution amends Articles 1, 25, 41, 129, 131, 136, and 141, and repeals Articles 107 through 125 of the General Provisions applicable to the National Financial Entity for Agricultural, Rural, Forestry and Fisheries Development. It updates the definition of external audit to align with new CNBV regulations, mandates quarterly reporting of credit deviations to the board and committees, and establishes a 90-day deadline for submitting audited annual financial statements to the CNBV and publishing them online and in national newspapers. The resolution also requires the submission of a self-evaluation report and commissioner's opinion within 120 days of the fiscal year-end, and enters into force on August 1, 2018.
DOF: 26/04/2018
RESOLUTION modifying the general provisions in prudential, accounting, and information request matters applicable to the National Financial Entity for Agricultural, Rural, Forestry and Fisheries Development
A seal with the National Coat of Arms appears on the margin, which reads: United Mexican States.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.
The National Banking and Securities Commission, based on the provisions of Article 52, first paragraph of the Organic Law of the National Financial Entity for Agricultural, Rural, Forestry and Fisheries Development, as well as Articles 4, fractions VI, XXXVI and XXXVIII, and 16, fraction I of the Law of the National Banking and Securities Commission, and
CONSIDERING
That it is necessary to repeal the norms regarding the services of independent external audit that the National Financial Entity for Agricultural, Rural, Forestry and Fisheries Development must contract, due to the fact that these are integrated into a new regulatory body called "General Provisions applicable to entities and issuers supervised by the National Banking and Securities Commission that contract external audit services for basic financial statements", has resolved to issue the following:
RESOLUTION MODIFYING THE GENERAL PROVISIONS IN PRUDENTIAL, ACCOUNTING, AND INFORMATION REQUEST MATTERS APPLICABLE TO THE NATIONAL FINANCIAL ENTITY FOR AGRICULTURAL, RURAL, FORESTRY AND FISHERIES DEVELOPMENT
SINGLE.- Articles 1, third paragraph, fraction III; 25, fraction V; 41, last paragraph; 129, second paragraph; 131, first paragraph; 136, second paragraph, and 141, second paragraph are AMENDED, and Articles 107 to 125 of the "General Provisions in prudential, accounting, and information request matters applicable to the National Financial Entity for Agricultural, Rural, Forestry and Fisheries Development", published in the Official Gazette of the Federation on June 19, 2006, and amended through resolutions published in the said Gazette on November 22, 2013; January 9, 2015; January 7, 2016, and January 4, 2018, are REPEALED, to read as follows:
" Article 1.-
. . .
. . .
. . .
. . .
. . .
I.
and II.
. . .
III.
External audit, the function performed by the public accountant or licensed public accountant who meets, where applicable, the characteristics and requirements contained in the "General Provisions applicable to entities and issuers supervised by the National Banking and Securities Commission that contract external audit services for basic financial statements" and its modifications.
IV. to XXIX. . . . "
" Article 25.- . . .
Second paragraph. Repealed.
Third paragraph. Repealed.
I.
to
IV.
. . .
V.
To inform at least quarterly the board, the audit committee, as well as the risk committee, about the deviations detected with respect to the objectives, guidelines, policies, procedures, strategies, and current regulations in credit matters. These reports must be available to the internal auditor and competent authorities.
VI. to XV. . . .
Fourth paragraph. Repealed.
. . . "
" Article 41.-
. . .
. . .
. . .
The credit manual must designate the area responsible for the safekeeping and custody of the minutes or records and documents referred to in the previous paragraph, which must be available to those responsible for internal control and internal audit functions, as well as competent authorities. This is without prejudice to the fact that, according to the credit manual, copies of such minutes and documents must be sent to other areas of the Financial Entity. "
" Articles 107 to 125.- Repealed. "
" Article 129.-
. . .
Regarding the basic annual financial statements, they must be submitted to said administrative body within ninety (90) natural days following the closing of the respective fiscal year.
. . .
"
" Article 131.- The Financial Entity must disseminate through the Internet on the page corresponding to the Financial Entity itself, the audited basic annual financial statements with figures as of December of each year, including their notes, as well as the opinion issued by the independent external auditor, within ninety (90) natural days following the closing of the respective fiscal year. Additionally, they must disseminate jointly with the aforementioned information:
I.
to
IV.
. . .
. . . "
" Article 136.-
. . .
Likewise, the Financial Entity will publish the annual general balance sheet and income statement, audited by an independent external auditor, within ninety (90) natural days following the closing of the respective fiscal year, in two newspapers of wide national circulation. Without prejudice to the foregoing, the Financial Entity may carry out the publication of the unaudited general balance sheet and income statement, provided they have been approved by the board and this circumstance is specified in the notes.
. . .
. . .
. . .
. . . "
" Article 141.-
. . .
Regarding the audited basic annual financial statements of the Financial Entity, prepared, approved, and signed in accordance with the provisions of these regulations, they must send them to the Vice Presidency of the Commission in charge of their supervision within ninety (90) natural days following the closing of the corresponding fiscal year. Additionally, a self-evaluation report on the business operations of the Financial Entity referred to in Article 44 of the Law, as well as the commissioner's opinion, will be provided within one hundred twenty (120) natural days following said closing.
. . .
. . . "
TRANSITIONAL
SINGLE.- This Resolution will enter into force on August 1, 2018.
Respectfully
Mexico City, April 17, 2018.- The President of the National Banking and Securities Commission, José Bernardo González Rosas.- Signature.
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