(1) The external auditor shall conduct its audit consistent with internationally-accepted auditing standards.
(2) The duties of an external auditor shall include —
(a) examining the books and records and reporting on the annual financial statements which comprise —
(i) the statement of financial position, statement of changes in equity, statement of comprehensive income, statement of cash flows, and
(ii) a summary of significant accounting policies and other explanatory notes,
on both a solo and consolidated basis if applicable, and in every report the auditor shall state whether in the external auditor's opinion the financial statements present fairly in all material respects the financial position of the licensed financial institution or licensed financial holding company and of its financial performance and its cash flows for the year then ended; and
(b) all or any of the following duties as may from time to time be required by the Central Bank —
(i) submission of additional information in relation to the audit of the licensed financial institution or licensed financial holding company as the Central Bank considers necessary,
(ii) to carry out any other examination or establish any procedure in any particular case,
(iii) to submit a report on any of the matters referred to in subparagraphs (i) and (ii),
(iv) to submit a report on the financial and accounting systems and risk management controls of the licensed financial institution or licensed financial holding company,
(v) to submit a report on whether prudent credit-granting and investment criteria, policies, practices and procedures are approved and reviewed by the management and board and communicated to all credit officers and whether major credits and investments are decided at a high managerial level,
(vi) to certify whether the systems of loan classification, provisioning and write-offs determined by the Central Bank are being adhered to, and
(vii) to certify whether suitable measures to counter money laundering and to combat the financing of terrorism have been adopted by the licensed financial institution or licensed financial holding company and are being implemented in accordance with the applicable laws.