Central Bank of Bahrain Law: Contents

Central Bank of Bahrain and Financial Institutions Law 2006
Central Bank of Bahrain and Financial Institutions Law 2006 (English)
Central Bank of Bahrain and Financial Institutions Law
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Article (63) Additional Tasks for the Auditors

(a) The Central Bank may request additional duties from the external auditor concerning licencees or listed companies. Such tasks may include:
1. Submission of such additional information relating to the audited accounts as the Central Bank may specify.
2. Enlarging the scope of the audit.
3. Notifying the Central Bank of any financial violations discovered during the course of the audit.
4. Notifying the Central Bank of any reservations regarding the accounts and statements of the Licencee.
5. Notifying the Central Bank of any discrepancy in the financial systems, controls, and of any material inaccuracies or inconsistency in the final accounts of the Licencee or listed company.
6. Preparing such financial reports and statements as required by the Central Bank. Auditor's fees for such additional tasks shall be born by the licensee or the listed company.
(b) By carrying out such assignment requested by the Central Bank under the preceding paragraph, the auditor shall not be in breach of any duties towards the licencee, the listed company or the shareholders.
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(1 Version)
 
Sep 7 2006 onwards
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