Regulatory Alerts2018-04-26 | DOF 5520816Added
Resolution modifying the general provisions applicable to savings and credit entities, integration organisms, community financial societies, and rural financial integration organisms under the Savings and Credit Popular Law
The resolution amends Articles 1, 2, 45, 66, 101, 123, 127, 130, 150, 183, 192, 205 Bis 12, 212, 335, and 336 of the general provisions applicable to savings and credit entities, integration organisms, community financial societies, and rural financial integration organisms. It derogates specific fractions of Articles 1, 127, 184, and 185, and entirely repeals Chapter VI of Title Four regarding independent external auditors (Articles 218 to 232 Bis 4). The amendments require that independent external auditors meet the criteria set in the separate general provisions for entities contracting external audit services, mandate that audit reports conform to International Standards on Auditing, and impose stricter composition and independence requirements for audit committees within popular financial societies. These changes take effect on August 1, 2018.
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