ABSA Corporate Bank South Africa Audit Confirmation Instructions

Published: 31/07/2024

ABSA Corporate Bank South Africa Form Setup Instructions

The below guide highlights ABSA Corporate 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.
Kindly refer to the prior year's confirmation and/or confirm with the client under which department is the client's profile at the bank before initiating your requests.

For any audit certificate queries, please send an email to: Auditcertificatequery@absa.co.za

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.

Form Type	Form Description
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. Submit either a ZA-Asset form or Shariah Asset form but not both.

ZA - Asset	Provides information on balances, Interest, collateral/security/facilities. 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- no need to submit a seperate liability form for an account in overdraft.
	Click here for a detailed explanation of the ZA - Asset Form
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.
	Click here for a detailed explanation of the ZA - Liability Form
ZA - Contingent Liabilities & Guarantees	Provides information on written guarantees and other contingent liabilities.
	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.
	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.
	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
	Click here for a detailed explanation of the ZA - Derivatives Form

Note: Authorisation is required from only one client signer

Instructions:

ABSA Corporate Bank South Africa Clients

ABSA Corporate Banking South Africa clients are generally large and listed clients.

ABSA Corporate Bank South Africa Departments Not Available on Confirmation.com

ABSA Corporate 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

ABSA Corporate Bank 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)