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Location: Central Bank of Bahrain Volume 4—Investment Business > Part A > High Level Standards > AA Auditors and Accounting Standards > AA-1 Auditor Requirements > AA-1.4 Auditor Independence
  • AA-1.4 Auditor Independence

    • AA-1.4.1

      Before an investment firm licenseeG appoints an auditor, it must take reasonable steps to ensure that the auditor has the required skill, resources and experience to carry out the audit properly, and is independent of the licenseeG .

      Amended: January 2007

    • AA-1.4.2

      For an auditor to be considered independent, it must, among things, comply with the restrictions in Section AA-1.5.

    • AA-1.4.3

      If an investment firm licenseeG becomes aware at any time that its auditor is not independent, it must take reasonable steps to remedy the matter and notify the CBB of the fact.

      Amended: January 2007

    • AA-1.4.4

      If in the opinion of the CBB, independence has not been achieved within a reasonable timeframe, then the CBB may require the appointment of a new auditor.

      Amended: January 2007

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