BANKS ACT REGULATIONS: INPUT SOUGHT ON DRAFT AUDITING DIRECTIVE

BANKS ACT REGULATIONS: INPUT SOUGHT ON DRAFT AUDITING DIRECTIVE

• 13 November 2023
• Financial Sector
• SA Legal Academy

The Prudential Authority has called for input by 21 November 2023 on a draft directive affecting auditors’ reporting duties under the Banks Act, 1990, and related regulations.

Informed by amendments to securitisation exposure requirements in force since October 2022, once finalised the draft directive will replace Directive D5, which was issued in July 2023.

Its purpose is to ‘specify detailed references’ in the context of reporting requirements prescribed in Banks Act Regulation 46 when auditing, reviewing or concluding returns under a limited assurance framework.

• draft directive
• draft annexure
• Directive D5/2023 (to be replaced)

Published by SA Legal Academy Policy Watch

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