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Location: Central Bank of Bahrain Volume 3—Insurance > Part A > High Level Standards > AA Auditors and Actuaries > AA-B Scope of Application
  • AA-B Scope of Application

    • AA-B.1 Insurance Licensees

      • AA-B.1.1

        The contents of this Module — unless otherwise stated — apply to all insurance licenseesG .

      • AA-B.1.2

        The requirements relating to actuariesG (Chapter AA-4), apply only to insurance firmsG , and differentiate between insurance firmsG undertaking long-term insuranceG and those undertaking general insuranceG .

        Amended: January 2007

    • AA-B.2 Auditors and Actuaries

      • AA-B.2.1

        Certain requirements in this Module extend to auditorsG and actuariesG , by virtue of their appointment by insurance licenseesG . AuditorsG and actuariesG appointed by insurance licenseesG must be independent (cf. Sections AA-1.4, AA-1.5and Paragraphs AA-4.2.3 and AA-4.2.4). AuditorsG and actuariesG who resign or are otherwise removed from office are required to inform the CBB in writing of the reasons for the termination of their appointment (cf. Paragraphs AA-1.2.3 and AA-4.2.8). Other requirements are contained in Sections AA-1.3 (Audit partner rotation) and AA-3.1 (AuditorG reports).

        Amended: January 2007

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