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Location: Central Bank of Bahrain Volume 3—Insurance > Part A > High Level Standards > AA Auditors and Actuaries > AA-1 Auditor Requirements > AA-1.3 Audit Partner Rotation
  • AA-1.3 Audit Partner Rotation

    • AA-1.3.1

      Unless otherwise exempted by the CBB, insurance licenseesG must ensure that the audit partner responsible for their audit does not undertake that function more than five years in succession.

      Amended: January 2007

    • AA-1.3.2

      Insurance licenseesG must notify the CBB of any change in audit partner.

      Amended: January 2007

    • AA-1.3.1A

      For purposes of Paragraph AA-1.3.1, the first five-year period referred to is for the period ending 31 December 2010 (Refer to Paragraph ES-2.4.3). Therefore, unless there has been a change in the partner appointed since the Rulebook was issued in May 2005, or if a company has been licensed since the Rulebook has been issued, insurance licenseesG will need to have a new partner responsible for the audit engagement for the year 2011

      Added: October 2007

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