Regulatory Alerts2024-01-31
Added
Directive MAF Reporting Requirements
Registered medical aid funds must continue submitting quarterly returns via NAMFISA’s Electronic Regulatory System within 30 calendar days of each quarter-end and annual returns within six months after their financial year-end. External auditors are required to perform agreed-upon procedures under ISRS 4400 on annual return information not explicitly disclosed in audited financial statements to verify validity, accuracy, and completeness. Funds may measure outstanding claims payable and gross provision for claims incurred but not yet reported liabilities using current methodologies or IFRS 17 Premium Allocation Approach, provided they notify the Registrar of any change. Levy basis and submission forms remain unchanged under the current regulatory framework.
More like this from NAMFISA
We email you every new NAMFISA publication the day it's published.