Regulatory Alerts2020-01-01
Circularisation of Bank Accounts by Commercial Banks and Non-Banks for the Audit of Payroll Management and Establishment Control
The Bank of Zambia requires all commercial banks and non-banks to submit account holder names, national registration numbers, and mobile numbers for the Auditor General’s audit of the Payroll Management and Establishment Control system covering 2017 to 2019. Financial institutions must populate standardized templates with bank key, account number, bank name, and branch details before emailing electronic copies to designated supervisors by December 11, 2020. This mandatory data submission enables accurate payroll expenditure verification and ensures regulatory compliance with government audit protocols.
Share