RESOLUTION OF THE NATIONAL COMMISSION ON THE FINANCIAL MARKET OF THE REPUBLIC OF MODOV

of July 23, 2009 No. 36/12

About approval of the Regulations on requirements for certification of auditors of professional participants of the non-bank financial market

For the purpose of execution of provisions of part (5) Art. 20 of the Law No. 61-XVI of 16.03.2007 "About auditor activities" (The official monitor of the Republic of Moldova, 2007, No. 117 - 126, the Art. 530), parts (4) Art. 45 of the Law No. 139-XVI of 21.06.2007 "About savings and loan associations" (The official monitor of the Republic of Moldova, 2007, No. 112 - 116, the Art. 506), parts (1) the Art. 1, the Art. 3, parts (1) and parts (2) the Art. 4, Item b) and Item t) the Art. 8, parts (1) the Art. 21, parts (1) and parts (2) Art. 22 of the Law No. 192-XIV of 12.11.1998 "About the National commission on the financial market" (it is repeatedly published in the Official monitor of the Republic of Moldova, 2007, No. 117-126 BIS), Items 81-83 of the Regulations on certification of auditors, approved by the Order of the Government No. 1450 of 24.12.2007 "About some measures for accomplishment of the Law on auditor activities No. 61-XVI of 16.03.2007" (The official monitor of the Republic of Moldova, 2007, No. 203 - 206, the Art. 1493), the National commission on the DECIDES: financial market

Approve Regulations on requirements for certification of auditors of professional participants of the non-bank financial market it (is applied).

Appendix

to the Resolution of the National commission on the financial market of July 23, 2009 No. 36/12

Regulations on requirements for certification of auditors of professional participants of the non-bank financial market

I. Bases for implementation of activities for audit of professional participants of the non-bank financial market

1. Activities for audit of professional participants of the non-bank financial market are performed based on the qualification certificate of the general audit issued according to the current legislation and the qualification certificate of the auditor of professional participants of the non-bank financial market (in the field of securities, insurance, savings and loan associations) issued by the National commission on the financial market according to this Provision.

2. Depending on area of the non-bank financial market the auditor of professional participants of the non-bank financial market shall have the following certificates:

1) the qualification certificate of the auditor of professional participants of the security market - for possession of the right to implementation of activities for audit of professional participants of the security market;

2) the qualification certificate of the auditor of professional participants of the insurance market - for possession of the right to implementation of activities for audit of professional participants of the insurance market;

3) the qualification certificate of the auditor of savings and loan associations - for possession of the right to implementation of activities for audit of savings and loan associations.

II. Requirements to candidates for receipt of the qualification certificate of the auditor of professional participants of the non-bank financial market

3. The candidate for receipt of the qualification certificate of the auditor of professional participants of the non-bank financial market shall meet the following requirements:

1) to have the qualification certificate of general audit;

2) to have knowledge in the respective area (insurance, the security market, savings and loan associations);

3) lack of unspent conviction.

4. The candidate shall have full legal capacity, the higher education in financial and economic or legal area confirmed with the diploma of the licentiate issued by higher educational institution of the Republic of Moldova or other state on condition of recognition of qualification and equivalence of this diploma by the Ministry of Public Education and youth of the Republic of Moldova.

III. Procedure of receipt of qualification certificates

5. Certification of applicants for receipt of the qualification certificate is carried out by certifying commissions for certification of specialists of professional participants of the non-bank financial market depending on area for which the qualification certificate is requested:

1) for possession of the right to implementation of activities for audit of professional participants of the security market - Certifying commission on certification of specialists in the field of securities;

2) for possession of the right to implementation of activities for audit of professional participants of the insurance market - Certifying commission on certification of actuaries;

3) for possession of the right to implementation of activities for audit of savings and loan associations - Certifying commission on certification of specialists of savings and loan associations.

6. Process of certification, issue of qualification certificates, replacements of earlier issued qualification certificates, and also maintaining the register of accounting of qualification certificates of auditors of professional participants of the non-bank financial market are carried out according to requirements of the Regulations on certification of specialists of professional participants of the non-bank financial market approved by the Resolution of the National commission on the financial market No. 44/5 of 18.09.2008 (The official monitor of the Republic of Moldova, 2009, No. 34-36, the Art. 118), taking into account the features specified in this Provision.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info