According to the amendments at this Circular, with regard to the internal control system of banks, audit shall cover:
- Audit of internal mechanisms, policies, processes and regulations of banks in accordance with applicable laws;
- Audit of making and presenting financial statement;
- Audit of contents of internal assessment of capital adequacy of banks according to regulations of laws.
Other regulations are also amended at this Circular such as: returning the audit results to the State Bank upon receiving the audit report that has qualified opinion; conditions on auditing organizations; submission of a written notice of the selected independent audit organization to the State Bank, etc.
This Circular takes effect from April 15th, 2022.
|Published||Vietlaw's Newsletter No. 545|