Central Bank of Ireland Safeguarding Notice, 25 May 2023

Safeguarding Notice 25 May 2023
The purpose of this communication is to further clarify the nature of the specific audit of compliance with the safeguarding requirements under the Payment Services Regulations (PSR)/ Electronic Money Regulations (EMR), as communicated in the Central Bank’s letter dated 20 January 2023, addressed to all payment and electronic money institutions authorised in Ireland.

Following discussions with Chartered Accountants Ireland (CAI), an acceptable format for these engagements has been agreed, as detailed below. CAI will issue guidance to their members on performing these engagements in due course. 

Click below to download the :

1. 25 May 2023 Safeguarding Notice;
2. 20 January 2023 CBI Dear CEO Letter.

Note: As previously communicated, the reports should be submitted by each firm to the Central Bank by 31 October 2023