regulatory updates: what the cpas should know. basel core principles for effective banking...
TRANSCRIPT
Regulatory Updates:What the CPAs should know
Basel Core Principles for Effective Banking Supervision
Principle 10 – Supervisory ReportingPrinciple 26 – Internal Control and Audit Principle 27 – Financial Reporting and External AuditPrinciple 28 – Disclosure and Transparency
CPAs are among the key players in the supervision process
Management,
financial, and
prudential reports
Prudential reports and industry statistics
Financial
perform
ance and
industry s
tatistic
s
Supervisors and the Profession are partners in promoting the safety and soundness of banks and
the banking system
• Fit and proper criteria
• Qualification requirements
• Membership composition requirements of board-level committees
BSP Issuances
• Internal control and internal audit standards
• External auditor selection requirements
• Expectations from an effective external audit function
BSP Issuances
• Evolving international standards
• Changing regulatory and business landscape/environment
Remain relevant andFaithful to the values of the profession
Regulatory Updates:What the CPAs should know