ABSA Business Banking South Africa Audit Confirmation Instructions

Published: 23/07/2024

ABSA Business Banking South Africa Form Setup Instructions

The below guide highlights ABSA Business Bank South Africa's specific instructions on accepted form types and how to setup the different form types for relevant bank accounts.

Please do not split forms between ABSA Private, ABSA Corporate, and ABSA Business. All forms for a specific client should be sent to either one of the departments.
Refer to the prior year's confirmation for the department that completed the forms before initiating your requests.

Depending on how information can be extracted from the bank systems, a form can be set up in 2 ways:

Individual account basis
The bank can only extract form details on an individual account basis. Auditors will therefore need to set up each account number as a separate form of the form type.
Entity wide basis
The bank can extract form details on an entity wide basis. Auditors can therefore send a single form of the form type using a main account number. As information is supplied on an entity wide basis all other account numbers do NOT need to be supplied.

Note: Authorisation is required from only one client signer

Form Type	Form Description	Setup Instructions	Accepted Accounts
ZA - Asset	Provides information on balances, Interest, collateral/security/facilities. Note: The bank will provide overdraft information and treasury on the ZA - Asset form. Should the you have the treasury account, please state on the comments when you initiate this form. An asset account is typically a current; cheque; deposit; saving; or investment etc.	Individual account basis A separate ZA-Asset form needs to be set up per account number.	Current Call deposit Investment CFC Treasury
	Click here for a detailed explanation of the ZA - Asset Form
Shariah Asset Form (Islamic Accounts)	Provides information on balances, returns accrued/received/earned and any collateral/security/facilities that may have been attached to an account for a specified year end date. An asset account is typically a current; cheque; deposit; saving; or investment etc. Note: The bank will provide overdraft information on the ZA - Asset form. You only need to submit either a ZA - Asset form or Shariah Asset form, not both.	Individual account basis A separate Shariah Asset form needs to be set up per account number.	Current Call deposit Investment
ZA - Liability	Provides information on balances, Interest, borrowing agreements, covenant details, collateral/security/facilities. Note: The bank will provide overdraft information on the ZA - Asset form. Only send a ZA - Asset form and not a ZA - Liability form for an account number that has an overdraft attached. A liability account is typically loans; advances etc.	Individual account basis A separate ZA-Liability form needs to be set up per account number.	Current Fleet VAF Term loan Personal loan Bond Revolving loan Commercial Property Finance
	Click here for a detailed explanation of the ZA - Liability Form
ZA - Contingent Liabilities & Guarantees	Provides information on written guarantees and other contingent liabilities.	Entity wide basis Only need to set up one form, with a main account number.	Current Local Documented Product
	Click here for a detailed explanation of the ZA - Contingent Liabilities & Guarantees Form
ZA - Signatories	Provides a list of authorised signatories on the client account and documentation with regards to the power of attorney.	Individual account basis A separate ZA - Signatories form needs to be set up per account number.	Current Cheque Savings Fleet Term loan Personal loan Bond Revolving loan Commercial Property Finance
	Click here for a detailed explanation of the ZA - Signatories Form
ZA - Letter of Credit	Asks questions in relation to a letter issued by a bank to another bank to serve as a guarantee for payments made to a specified person under specified conditions.	Entity wide basis Only need to set up one form, with a main account number.	Current
	Click here for a detailed explanation of the ZA - Letter of Credit Form
ZA - Derivatives	Provides information on foreign exchange contracts and other derivative positions etc. This information is supplied on an entity basis. Note: For all FEC’s and Forward positions, set up the form with, preferably, the main MIDAS number (Please do not supply trade numbers). If you do not have the Midas/Deal number, use the main transacting account number	Entity wide basis Only need to set up one form, with a main account number.	FEC
	Click here for a detailed explanation of the ZA - Derivatives Form

Instructions:

ABSA Business Banking South Africa Clients

ABSA Business Banking clients are generally smaller to medium sized entities.

ABSA Business Banking South Africa Departments Not Available on Confirmation.com

ABSA Business Banking South Africa can be facilitated through Confirmation.com. There are however a few departments that are in the process of being on boarded and have thus not launched on Confirmation.com as of yet. Should an auditor want a confirmation from any of these departments, they would need to contact the department directly. Confirmation.com is constantly adding bank departments onto the system and will notify auditors once these additional departments have launched. Please refer below to a list of email addresses that can be used to send a manual paper request to the bank.

Department Name		Email Address
Credit Card		purchasecard@absa.co.za
Unit Trust		unittrust@absa.co.za
ABSA Investment and Management Services (AIMS)		AIMSEnquiries@absa.co.za

ABSA Business Banking South Africa Accounts

Account Name	Account Digits	Account Structure
Current	Consist of 10 digits(max)	XXX XXX XXXX (Can include a 0 before)
Call Deposit	Consist of 10 digits(max)	XXX XXX XXXX (Can include a 0 before)
Investment	Consist of 10 digits(max)	XXX XXX XXXX (Can include a 0 before)
CFC	Consist of 9 digits
Forward Exchange Contracts (FEC)	Consist of 6 digits	Requires a Midas/Deal numbers
Unit Trust	Consist of 10 digits(max)
Fleet	Consist of 16 digits
Vehicle and Asset Finance	Consist of 9 digits
Treasury	Consist of 12 digits
ABSA Investment and Management Services (AIMS)	Consist of 10 digits(max)