Illustrative Reports

Revised Illustrative Banks Act Regulatory Auditor’s Reports

Effective Date: Periods ending on or after 15 June 2025.

Note that this illustrative report is a template and changes may be made hereto to the extent required, provided they are consistent with the standard and terms of the engagement. Where substantive changes are made to the illustrative report, firms should consider their own internal policies and procedures to ensure compliance with reporting requirements.

These revised illustrative regulatory reports have been updated for, among others:

• Relevant aspects from the SAICA Guide: Materiality Guidelines for Regulatory Assurance Engagements performed in accordance with Regulation 46 relating to Banks published in August 2024;
• Consequential amendments identified from the Mutual Banks Act regulatory reports revised in 2023;
• Clarification to the wording made to the “Other Information” sections of the reports; and
• Consequential amendments made to the International Standard on Auditing (ISA) 700 (Revised), Forming an Opinion and Reporting on Financial Statements, as a result of ISA 600 (Revised), Special Considerations - Audits of Group Financial Statements (Including the Work of Component Auditors), which has led to an update in the Part A report.