Regulatory Alerts2018-04-26 | DOF 5520815Added
Resolution modifying the general provisions applicable to credit institutions
The resolution amends articles of the General Provisions Applicable to Credit Institutions to align audit committee member selection with specific expertise in accounting, auditing, and internal control, while mandating their independence and freedom from conflicts of interest. It repeals the chapter on Independent External Auditors and Reports (Articles 187-206), transferring regulatory requirements to a separate normative body for entities contracting external audit services. Additionally, it updates reporting deadlines for consolidated financial statements to 90 days and mandates CNBV prior approval for external audit contracts.
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