Role of External Auditors in the Supervision of Licensed Persons

30 July 2010

Auditors play an important part in the Reserve Bank’s process as a regulator. A number of jurisdictions impose requirements on auditors and company management to supply certain information to the Regulator. In addition, there are often statutory obligations imposed on auditors, e.g. a duty to report breaches of legislation or where licensed persons may be insolvent or acting in a manner detrimental to the interests of investors.

The purpose of this statement is to outline minimum requirements and clarify the role to be played by external auditors ("auditors") in the supervision of licensed persons.

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