MORNBFI Vol. 1 - Planters Development Bank

Information/Data Required Deadline for submissionapplicable, on certification under oathstating that no material weakness orbreach in the internal control and riskmanagement systems was noted in thecourse of the audit of the bank.APP. Q-3308.12.31b. A report by the country head on theaction taken by management (headoffice, regional or country) on the LOC.6. Certification of the external auditor on thedate when the LOC was submitted tothe board of directors or country head.7. All the required disclosures in the AFSprovided under Subsec. 4190Q.4Within thirty (30) banking days after thereceipt of the LOC by the country head.Within thirty (30) banking days after thereceipt of the LOC by the board of directorsor country head.For submission together with the FAR notlater than one hundred twenty calendardays after the close of the calendar year orfiscal year adopted by the bank.8. Reports required to be submitted by theexternal auditor under Appendix Q-30.a. To enable the BSP to take timely andappropriate remedial action, the externalauditor must report to the BSP, thefollowing cases:Within thirty (30) calendar days afterdiscovery.(1) Any material finding involving fraudor dishonesty (including cases that wereresolved during the period of audit); and(2) Any potential losses the aggregate ofwhich amounts to at least one percent(1%) of the capital.b. The external auditor shall report directlyto the BSP the following:Within fifteen (15) calendar days after theoccurrence/discovery.(1) Termination or resignation as externalauditor and starting the reason therefore;(2) Discovery of a material breach oflaws or BSP rules and regulations suchas, but not limited to:Manual of Regulations for Non-Bank Financial InstitutionsQ RegulationsAppendix Q-33 - Page 3