Published Date: 17 July 2018

Notice 615 Appointment of Auditors

Requirements for banks on the annual appointment of auditors. 

This notice sets out the requirements for every bank in Singapore to seek MAS’ approval to appoint or re-appoint an auditor annually to carry out the duties specified in section 58 of the Banking Act.

It also sets out the requirement for a bank incorporated and headquartered in Singapore to conduct a new public tender if the incumbent auditor has been appointed for 10 consecutive financial years following the last conduct of a public tender.

Amendment Notes

18 Jul 2018
MAS Notice 615 dated 27 Mar 2002 and last revised on 19 Mar 2007 is cancelled.
28 Mar 2002
MAS Notice 615 dated 1 Nov 1983 is cancelled.