The Bangko Sentral ng Pilipinas (BSP) has set out new rules to guide audit firms in their dealings with local banks and companies to ensure that good corporate governance principles are observed.
In a statement on Friday, the BSP said that the policy-making Monetary Board and the member-agencies of the Financial Sector Forum (FSF) approved the guiding principles on the “Bangko Sentral ng Pilipinas’ (BSP) Expectations for an Effective External Audit Function” in its recent meeting.
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