(a) On 29 October 2003, the BSP issued Circular No. 410 prescribing the guidelines governing the selection, appointment and reporting requirements for external auditors. This Circular effectively repealed Circular Nos. 179 dated 25 September 1998, 245 dated 25 May 2000 and 318 dated 30 January 2002
(b) The selection of external auditors shall be valid for a period of three (3) years. BSP selected external auditors shall apply for the renewal of their selection every three years.
Thrift banks include microfinance-oriented thrift banks
Rural banks include microfinance-oriented rural banks