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  • AU-A.2 AU-A.2 Module History

    • Evolution of Module

      • AU-A.2.1

        This Module was first issued as Module AU (Audit Firms) in July 2004, as part of the first release of Volume 1 (conventional banks) of the BMA Rulebook. It was subsequently reissued in full in July 2006 (and renamed "Auditors and Accounting Standards").

      • AU-A.2.2

        The reissued Module was one of several Modules modified to reflect the introduction of the BMA's new integrated license framework. Although the new framework did not change the substance of the requirements contained in this Module, the Module was re-issued in order to simplify its drafting and layout and align it with equivalent Modules in other Volumes of the BMA Rulebook.

      • AU-A.2.3

        This Module is dated July 2006. Pages that are subsequently changed in this Module are updated with the end-calendar quarter date in which the change was made: Chapter UG-3 provides further details on Rulebook maintenance and version control.

      • AU-A.2.4

        A list of changes made to this Module is provided below:

        Module Reference Change Date Description of Changes
        Whole Module July 2006 Module renamed as Module AU (Auditors and Accounting Standards). Text redrafted but substance of requirements left unchanged.
        AU-A.1 10/2007 New Rule AU-A.1.3 introduced, categorising this Module as a Directive.
        AU-1.2 10/2007 Rule AU-1.2.3 redrafted to clarify reporting obligation.
        AU-1.5 10/2007 Paragraphs AU-1.5.4 and AU-1.5.6 updated to reflect CBB Law requirements on auditor independence.
        Amended: October 2007

    • Superseded Requirements

      • AU-A.2.5

        This Module supersedes the following provisions contained in circulars or other regulatory instruments, issued prior to the introduction of Volume 1 (conventional banks) of the BMA Rulebook:

        Circular Ref. Date of Issue Module Ref. (July 2004 version) Circular Subject
        BC/5/82 5 Aug 1982 AU-1.1 Approval of Appointment of Auditors
        ODG/59/99 15 Jul 1999 AU-1.1–AU-1.2 Audit Partners of External Auditors and Reporting Accountants of Locally Incorporated Banks
        BC/3/02 13 Mar 2002 AU-1.3 Additional Public Disclosure Requirements Amended Version — 2002
        BC/12/01
        (partial)        		 26 Nov 2001 AU-1.4 The Monitoring and Control of Large Exposures of Banks Licensed by the Agency
        ODG/162/03
        (partial)        		 21 May 2003 AU-2.2 Outsourcing
        BS/9/03
        (partial)        		 14 Sep 2003 AU-1.4 Operational Risk Management
        BC/1/97 12 Feb 1997 AU-1.5 Request for Approval for Dividend Distribution
        14/86 19 Jun 1986 AU-2.1 Auditors' Relationship with Supervisors
        BC/2/99 21 Feb 1999 AU-3.2 Public Disclosure
        BMA/751/93
        (partial)        		 8 Jul 1993 AU-3.2 Directors' Interest in the Shares of, and the Unaudited Quarterly Financial Statements of, Locally Incorporated Banks Quoted on the Bahrain Stock Exchange.
        BC/1/99 22 Feb 1999 AU-3.3 Enhancing Bank Transparency
        BC/07/02 26 Jun 2002 AU-3.4 Review of PIR by External Auditors
        ODG/50/98
        (partial)        		 11 Sep 1998 AU-3.5 Market Risk Capital Regulations
        EDBC/6/01
        (partial)        		 14 Oct 2001 AU-3.6 Money laundering Regulation
        BC/3/02 13 Mar 2002 AU-3.7 Additional Public Disclosure Requirements Amended Version — 2002
        BC/7/01
        (partial)        		 23 Oct 2001 AU-3.7 Audited Financial Statement of Locally Incorporated Banks for the Year Ending 31 December 2001 and Subsequent Years.
        BC/8/01
        (partial)        		 23 Oct 2001 AU-3.7 Audited Financial Statement of Branches of Foreign Banks for the Year Ending 31 December 2001 and Subsequent Years.
        BC/6/97 21 Apr 1997 AU-4 Reporting Accountants