CTHRepealedLegislation
Banking, Insurance and Life Insurance (prudential standards) determination No. 3 of 2011 - Prudential Standard CPS 510 - Governance
86. A person, who was a member of an aud86. A person, who was a member of an audit firm or a director of an audit company, and who served in a professional capacity in the audit of a regulated institution in relation to the Prudential Acts, Prudential Standards or Reporting Standards, cannot be appointed to the role of director or senior manager of that regulated institution until at least two years have passed since they served in that professional capacity.
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86. A person, who was a member of an audit firm or a director of an audit company, and who served in a professional capacity in the audit of a regulated institution in relation to the Prudential Acts, Prudential Standards or Reporting Standards, cannot be appointed to the role of director or senior manager of that regulated institution until at least two years have passed since they served in that professional capacity.
- A person, who was an employee of an audit company, other than a director of that company, and who acted as the lead auditor[18] or review auditor[19] in the audit of a regulated institution in relation to the Prudential Acts, Prudential Standards or Reporting Standards, cannot be appointed to the role of director or senior manager of that regulated institution until at least two years have passed since they acted as the lead auditor or review auditor.