23 février 2022
The model reports for the prudential reporting as at 31 December 2021 have been updated by the dedicated Working Group, in close collaboration with the Board and the scientific secretariat.
The main adjustments and additions made in comparison with prior year are the following:
- In the audit report on the periodic statements, the insertion of a paragraph clarifying the accredited auditor’s responsibilities in respect of the use of the going concern basis of accounting, in line with the insertion of the same paragraph in the audit opinion on the annual accounts.
- The addition of the prescribed canevas of the “rapport circonstancié/omstandig verslag” for the NBB entities concerned.
- In the “rapport circonstancié/omstandig verslag”, the addition of a table detailing the hours budgeted versus the hours effectively performed by the audit team, information to be provided by the accredited auditors of credit institutions and insurance companies.
- The addition of the model reports of the annual statement with respect to Special Mechanisms, required by the Law of 2 June 2021. The model report for the NBB entities has been discussed and agreed with the NBB. The FSMA has opted not to formulate any comment on the model report, as the drafting of the annual statement is the sole responsibility of the accredited auditor.
In the context of the issuance of the annual statement referred to above, we would like to remind our members of the correct use of the paragraph on restrictions on use and distribution as stated in notice 2021 / 11. When the statement is transmitted to the client, the restrictions on use and distribution should be included in the cover letter to the client. No restrictions on use and distribution need to be included in the annual statement addressed to the prudential control authorities.
The model reports with respect to the audit of the statistical information of OPC(A) / (A)ICB will be distributed at a later stage. These reports are currently in the process of being drafted following the publication of a new circular on the cooperation of the accredited auditor to the prudential control of the aforementioned entities as at 16 February 2022.
The model reports are provided for illustrative purposes only. It is indeed impossible to describe all the facts and circumstances that might occur when drafting the reports. The accredited auditors will have to use their professional judgement amongst others in determining the findings to be highlighted and the conclusions to be expressed to the prudential authorities.