Regulatory Updates:What the CPAs should know

Basel Core Principles for Effective Banking Supervision

Principle 10 – Supervisory ReportingPrinciple 26 – Internal Control and Audit Principle 27 – Financial Reporting and External AuditPrinciple 28 – Disclosure and Transparency

CPAs are among the key players in the supervision process

Management,

financial, and

prudential reports

Prudential reports and industry statistics

Financial

perform

ance and

industry s

tatistic

s

Supervisors and the Profession are partners in promoting the safety and soundness of banks and

the banking system

• Fit and proper criteria

• Qualification requirements

• Membership composition requirements of board-level committees

BSP Issuances

• Internal control and internal audit standards

• External auditor selection requirements

• Expectations from an effective external audit function

BSP Issuances

• Evolving international standards

• Changing regulatory and business landscape/environment

Remain relevant andFaithful to the values of the profession

Regulatory Updates:What the CPAs should know