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  • AA-A AA-A Introduction

    • AA-A.1 AA-A.1 Purpose

      • Executive Summary

        • AA-A.1.1

          This Module presents requirements that have to be met by specialised licensees with respect to the appointment of external auditors. This Module also sets out certain obligations that external auditors have to comply with, as a condition of their appointment by specialised licensees.

          October 2010

        • AA-A.1.2

          This Module is issued under the powers given to the Central Bank of Bahrain ('CBB') under Decree No. (64) of 2006 with respect to promulgating the Central Bank of Bahrain and Financial Institutions Law 2006 ('CBB Law'). It supplements Article 61 of the CBB Law, which requires licensees to appoint an external auditor acceptable to the CBB.

          October 2010

      • Legal Basis

        • AA-A.1.3

          This Module contains the CBB's Directive (as amended from time to time) relating to auditors and accounting standards used by specialised licensees, and is issued under the powers available to the CBB under Article 38 of the CBB Law. The Directive in this Module is applicable to all specialised licensees (where applicable).

          Amended: January 2011
          October 2010

        • AA-A.1.4

          For an explanation of the CBB's rule-making powers and different regulatory instruments, see Section UG-1.1.

          October 2010

    • AA-A.2 AA-A.2 Module History

      • Evolution of Module

        • AA-A.2.1

          This Module was first issued in October 2010. Any material changes that are subsequently made to this Module are annotated with the calendar quarter date in which the change is made; Chapter UG-3 provides further details on Rulebook maintenance and version control.

          October 2010

        • AA-A.2.2

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

          Module Ref. Change Date Description of Changes
          AA-A.1.3 01/2011 Clarified legal basis.
          AA-3.1.1 07/2011 Excluded money changers and administrators from Paragraph AA-3.1.1.
          AA-5 04/2012 Chapter amended and content moved to Section BR-3.5 for money changers and administrators (or Module GR for rep offices) and retitled as Role of External Auditor as Appointed Expert.
          AA-1.3.2 10/2012 Guidance Paragraph deleted as five year period varies depending on type of specialised licensee and when license was granted.
          AA-1.5.4 and AA-1.5.5 10/2012 Clarified guidance by indicating what Law is being referred to.
          AA-3.3 10/2012 Section deleted as report can now also be completed by approved consultancy from as per Section FC-4.3.
          AA-3.2.2 and AA-3.2.3 04/2014 Added specific auditor reports applicable to financing companies.
          AA-3.1 10/2016 Deleted Section on Review of QPR