Regulatory Alerts2026-04-28
Directive 2 of 2026 – Regulation 46 Reporting Requirements for Banks
The Prudential Authority directs auditors of banks, controlling companies, and foreign branches to perform audits, reviews, or limited assurance engagements on specified regulatory returns using updated IRBA-approved illustrative reports. This directive implements amendments effective 1 July 2025 that refine the audit matrix and reporting frameworks for South African and foreign operations. It replaces Directive 2 of 2024 and mandates that auditors explicitly reference this directive in their submitted reports while ensuring signed acknowledgements are returned to the authority.
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