Additionally, in terms of Section 39 of the Banking Act and the Guideline on Transactions or Conditions respecting Well Being of a Financial Institution reportable by the External Auditor, the external auditors have an obligation to report directly to the Bank of Mauritius if they become aware of serious issues during their audit that the supervisor should know about in the public interest.
In furtherance of a more effective and efficient oversight, the Bank of Mauritius holds trilateral meetings with the banks and their external auditors on an annual basis after the publication of the audited financial statements to review the financial results and discuss any issue of concern.