The operations of credit institutions are audited by at least two approved Statutory Auditors. The application for authorisation shall be made by the credit institution, in duplicate, to the Monetary Authority. It must include the following documents:

• a certified true copy of a birth certificate less than three months old ;
• two passport photographs ;
• a criminal record certificate less than three months old;
• a curriculum vitae dated and signed by the person concerned;
• legalised copies of the required diplomas less than three months old;
• a copy of the minutes of the Board of Directors appointing the persons concerned ;
• a copy of the CEMAC approval certificate as a Chartered Accountant ;
• a copy of the registration form with the National Order of Chartered Accountants of Cameroon (ONECCA).

Credit institutions, their Directors and Auditors are approved by order of the Monetary Authority upon approval by COBAC.