MUTUAL BANKS: PRUDENTIAL AUTHORITY CALLS FOR INPUT ON AUDIT REPORTING DIRECTIVE

MUTUAL BANKS: PRUDENTIAL AUTHORITY CALLS FOR INPUT ON AUDIT REPORTING DIRECTIVE

• 07 July 2023
• Auditors & Accountants
• SA Legal Academy

The Prudential Authority has called for input by 28 July 2023 on a draft directive affecting the reporting duties of mutual bank auditors in respect of the financial year ending 30 June 2023. In that context, the draft directive includes a reference to Independent Regulatory Board for Auditors’ illustrative reporting standards.

Once finalised, the new directive will specify in detail the scope of regulatory returns to be audited, reviewed, or ‘concluded upon’ under a limited assurance framework and in terms of Regulation 6 of the Mutual Banks Act, 1993.

• draft directive

Published by SA Legal Academy Policy Watch

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