11 maart 2025

The model reports for the prudential reporting as at 31 December 2024 have been updated by the dedicated working group, in close collaboration with the Board and the scientific secretariat.

In line with the publication of the circular NBB_2024_12 on “The accreditation of auditors and audit firms and the cooperation of the accredited statutory auditors” on 16 July 2024, significant adjustments and additions have been made to the model reports for the prudential reporting to the NBB.

These can be detailed as follows:

  • Preliminary information: updating of the model report, taking into account the requirements with respect to, among other things, the information on the audit plan and the materiality levels, as already communicated on 27 September 2024 (Notice 2024/08);
  • Report on the periodic prudential returns: drafting of separate model reports for credit institutions and financial holdings, central securities depositories and stockbroking firms, as a result of the new risk based and cyclic audit approach in the scoping of the work of the accredited auditors on the periodic prudential returns; and
  • Comprehensive report: drafting of a new model report, complying with the new structure and requirements defined by the NBB.

In addition, a free translation of the model reports for credit institutions and insurance companies in English is provided.

The adjustments to the model reports for the reporting to the FSMA are the following:

  • Management companies: inclusion of amended confirmations following the regulation of 15 November 2023 that entered into force as at 1 January 2024; and
  • (A)ICB/OPC(A): smaller modifications following recent meetings with the FSMA.

The model reports are provided for illustrative purposes only. It is impossible to describe all the facts and circumstances that need to be taken into account when drafting the reports. The accredited auditors will have to use their professional judgement in determining the findings to be highlighted and the conclusions to be expressed to the prudential authorities.

The updated versions, both in “clean” and “track changes”, can be obtained by Veerle Sablon (v.sablon@irefi-iraif.be).

If you would have further questions, do not hesitate to contact her.

Gerelateerd

Notice IREFI 2025/02: Regulations of the National Bank of Belgium of 16 July 2024 on the accreditation of auditors and audit firms

Notice IREFI 2025/01: Attention points

IREFI Notice 2024/07: Composition of the IREFI working groups