Notice to Circular 61-3 to financial institutions
Summary — Notice to Circular 61-3 to financial institutions of the Bank of the Republic of Haiti — an instrument published alongside circular 61-3 to financial institutions, not the circular itself. Circulars are the operative prudential rules for supervised institutions, covering matters such as capital and liquidity requirements, credit-risk and governance standards, reserve requirements and foreign-exchange rules.
Key Findings
- The requirement being deferred is a dual-audit rule with a size threshold: financial institutions whose total balance sheet, individual or consolidated, exceeds 100 billion gourdes must appoint two independent auditors, at least one of them a firm affiliated with a major international audit group.
- That obligation, in section 2 of Circular 61-3, is deferred to fiscal year 2024-2025.
- The interim arrangement is stated rather than left implicit: the institutions concerned must have their annual financial statements audited by one independent auditor at the close of their fiscal year, and that auditor's mandate ends at the close of fiscal year 2023-2024.
- The threshold is the part worth recording for later use, because it defines which institutions the BRH treats as systemically large enough to need an internationally affiliated auditor.
- The notice is dated 2 March 2023 and signed by the Governor.
Full Document Text
Extracted text from the original document for search indexing.
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FES Banque de la République d'Haïti
AVIS
AUX INSTITUTIONS FINANCIÈRES
La Banque de la République d'Haïti (BRH) avise les institutions financières que les dispositions
de la section 2 de la Circulaire 61-3 stipulant que : « Les institutions financières dont le total de
bilan (sur base individuelle ou sur base consolidée) est supérieur à 100 milliards de gourdes sont
tenues de désigner deux vérificateurs indépendants, dont au moins un cabinet affilié à un grand
groupe d’audit international », sont reportées pour l’exercice fiscal 2024-2025.
Les institutions financières concernées devront faire vérifier leurs états financiers annuels par un
vérificateur indépendant à la fin de leur exercice fiscal. Le mandat dudit vérificateur indépendant
prendra fin au terme de l’exercice fiscal 2023-2024.
Port-au-Prince, le 2 mars 2023.
1
Jan Baden Dubois
Gouvernetf ni RE
É. Sl
@ www.brh.ht [Angle des rues Pavée et du Quai, Port-au-Prince, Haïti | Téléphones: (509) 22.99.12.00 / 22.99.12.01 | ©BRHHaiti | br
How to cite
Banque de la République d'Haïti (BRH), 2023, Notice to Circular 61-3 to financial institutions, https://www.brh.ht/wp-content/uploads/Avis-Circulaire-61-3.pdf