regulatory updates: what the cpas should know. basel core principles for effective banking...
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Regulatory Updates:What the CPAs should know
![Page 2: Regulatory Updates: What the CPAs should know. Basel Core Principles for Effective Banking Supervision Principle 10 – Supervisory Reporting Principle](https://reader035.vdocuments.us/reader035/viewer/2022062517/56649eff5503460f94c13ef2/html5/thumbnails/2.jpg)
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
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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
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Supervisors and the Profession are partners in promoting the safety and soundness of banks and
the banking system
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• Fit and proper criteria
• Qualification requirements
• Membership composition requirements of board-level committees
BSP Issuances
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• Internal control and internal audit standards
• External auditor selection requirements
• Expectations from an effective external audit function
BSP Issuances
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• Evolving international standards
• Changing regulatory and business landscape/environment
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Remain relevant andFaithful to the values of the profession
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Regulatory Updates:What the CPAs should know