AU-A.2.5
Past version: Effective from 01 Oct 2021 to 30 Sep 2021
To view other versions open the versions tab on the right
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. |
| AU-3.1 | 01/2009 | Paragraph AU-3.1.1 updated in respect of agreed upon procedures report for review of PIR by external auditors. |
| AU-5 | 01/2009 | New Chapter inserted for the role of the reporting accountant. |
| AU-5.1 | 10/2009 | Clarification of fee arrangements for reporting accountants. |
| AU-A.1.3 | 01/2011 | Clarified legal basis. |
| AU-1.1, AU-1.2, AU-1.5, AU-2.1, AU-3 and AU-5 | 01/2011 | Various minor amendments made for consistency in formatting |
| AU-3.5 | 01/2011 | Added new Section on report on material differences to be in line with Volume 2. |
| AU-3.3.2 | 04/2011 | Added cross reference to Module FC and clarified due date of report. |
| AU-3.5.1 | 04/2011 | Corrected name of return. |
| AU-3.2 | 10/2011 | Clarification of existing requirement for the Agreed Upon Procedures Report and setting a deadline for the submission of the report. |
| AU-5 | 10/2011 | Chapter amended and content moved to Section BR-6.5 and retitled as Role of the Appointed Expert. |
| AU-2.2.1 | 04/2012 | Corrected cross reference. |
| AU-1.3.1 | 07/2013 | Removed potential exemption regarding audit partner rotation. |
| AU-3.2.1 | 07/2013 | Removed potential exemption for external auditor to review published financial disclosures prior to their publication. |
| AU-3.3.1 | 07/2013 | Clarified that an approved consultancy firm can also provide the report on compliance with financial crime rules required under Section FC-4.3. |
| AU-4.1.2 | 07/2013 | Corrected typo. |
| AU-4.1.3 | 07/2013 | Changed Guidance to Rule. |
| AU-3.6 | 01/2014 | New Section added dealing with the report on compliance with remuneration rules. |
| AU-3.5.1 | 04/2014 | Removed reference to monthly statements of assets and liabilities. |
| AU-3.7 | 04/2014 | New Section added on the Report on Eligible Accounts for the Deposits/Unrestricted Investment Accounts Protection Funds |
| AU-1.1.1A | 07/2014 | Added guidance clarifying the information required when seeking the CBB's approval for appointment or re-appointment of the external auditor. |
| AU-3.6 | 07/2014 | Where a conventional bank licensee has no approved persons or material risk-takers whose total annual remuneration is in excess of BD100,000, the report on compliance with remuneration rules need not be completed by the external auditor. |
| AU-1.5.4 | 10/2014 | Clarified wording of guidance. |
| AU-3.1.3 | 04/2015 | Existing exemptions in respect of PIR review will cease as at 31st December 2014 for all Bahraini conventional bank licensees. |
| AU-3.6.1 | 07/2015 | Clarified that the external auditor or an approved consultancy firm can also provide the report on the bank's compliance with the remuneration Rules outlined in Chapter HC-5. |
| AU-3.2.4 | 01/2016 | Aligned as per the requirements of Module BR. |
| AU-3.2.3 | 07/2017 | Amended agreed upon procedures report submission deadline. |
| AU-1.5.1 | 04/2019 | Deleted Paragraph on Financial Transactions with Auditor. |
| AU-B.1.2 | 04/2020 | Amended Paragraph. |
| AU-1.1.4 | 04/2020 | Amended Paragraph. |
| AU-1.5.5 | 04/2020 | Amended Paragraph. |
| AU-3.2.1 | 04/2020 | Amended Paragraph. |
| AU-4.1.1 | 04/2020 | Amended Paragraph. |
| AU-3.3.2 | 07/2021 | Amended Paragraph. |
| AU-1.1.1 | 10/2022 | Amended Paragraph on auditor’s appointment period. |
| AU-3.6.1 | 03/2025 | Amended reference to HC Module. |