Regulatory Alerts2024-03-12
Reporting Requirements in Terms of Regulation 46
The Prudential Authority issued Directive D2/2024 to specify detailed reporting obligations for auditors of banks, controlling companies, and foreign branches under Regulation 46. This directive mandates that auditors perform audits, reviews, or limited assurance engagements on specified regulatory returns, incorporating recent amendments to securitisation exposures and the revised BA 500 form. Institutions must ensure their external auditors apply the updated audit matrix for financial years ending on or after 30 September 2023 and return a signed acknowledgement of receipt to the Prudential Authority.
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