ABSA Other Corporate Liabilities Audit Confirmation Instructions

Published: 29/06/2018

ABSA Other Corporate Liabilities Form Setup Instructions

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	Setup Instructions	Accepted Accounts
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.	Fleet VAF
	Click here for a detailed explanation of the ZA - Liability Form

Note: Authorisation is required from only one client signer

Instructions:

The below guide highlights ABSA Other Corporate Liabilities specific instructions on accepted form types and how to setup the different form types for relevant bank accounts.

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)