Audited Financial Statements
BR-1.5.1
As specified in Article 62 of the CBB Law, a
licensee must submit to the CBB its final audited financial statements within 3 months of thelicensee's financial year-end.October 2010BR-1.5.1A
In accordance with Paragraphs EN-B.4.5 and EN-5.2.2,
licensees must disclose in their annual audited financial statements the amount of any financial penalties paid to the CBB, together with a factual description of the reason(s) given by the CBB for the penalty.Licensees which fail to comply with this requirement will be required to make the disclosure in the annual audited financial statements of the subsequent year and will be subject to an enforcement action for non-disclosure.Added: October 2019BR-1.5.2
Audited accounts of a
licensee should be prepared in accordance with the International Financial Accounting Standards (IFRS) and with the requirements outlined in Appendix 1 at the end of this Module.October 2010BR-1.5.3
The Management Letter prepared by the external auditor must be submitted together with the final audited financial statements.
October 2010
